Saudi Aramco inks gas, LNG deal with Shell

State oil company Saudi Aramco signed a preliminary deal to pursue international gas opportunities with the Hauge-based LNG giant Shell.

The memorandum of understanding was signed in London on Thursday between the two companies during the visit of Saudi Crown Prince Mohammed bin Salman to the UK.

The deal includes upstream development, liquefaction projects and other aspects of the gas value chain, Saudi Aramco said in its statement.

“The MoU reflects Saudi Aramco’s strategy to expand its natural gas assets while acknowledging Royal Dutch Shell’s strength in LNG,” it said.

Saudi Aramco also signed deals with The Royal Institute of International Affairs (Chatham House), Imperial College London and Cambridge-based independent research and technology institution, TWI.