Saudi Aramco’s shipping unit to charter up to 12 LNG tankers

Image courtesy of Saudi Aramco

Bahri, shipping arm of Saudi Aramco, has reportedly issued an expression of interest (EOI) to charter up to 12 LNG tankers from 2025 in its first foray into the superchilled fuel.

Citing industry sources, Reuters said on Monday that Bahri’s EOI was likely part of Saudi Aramco’s expansion into LNG trading as it boosts gas production and considers expanding its LNG investments.

It is worth noting that EOIs are preliminary inquiries that may or may not turn into full-fledged orders.

According to Bahri’s website, the company’s six business units own 90 vessels, including 43 very large crude carriers (VLCCs), and 36 chemical/product tankers.

The Saudi state oil giant is looking to become a major gas player and has been developing its own gas resources as well as eyeing gas assets in the United States, Russia, Australia, and Africa.

Saudi Aramco already signed a 20-year agreement to buy LNG from an export terminal in Port Arthur that, currently under development by Sempra Energy. It also agreed to buy a 25 percent equity stake in the first phase of the multibillion-dollar project.