Saudi Aramco may enter LNG market by leasing LNG ships

Recently, Bahri, Saudi Aramco's shipping department, has issued a letter of intent to hire 12 liquefied natural gas (LNG) ships from 2025, which is the company's first entry into the field of ultra-low temperature fuel. According to Bahri's website, Saudi Arabia's national shipping company has six business units, operating oil, chemicals, logistics, dry bulk, ship management and data, and 90 vessels, including 43 VLCCs and 36 chemical / finished oil tankers. Bahri's letter of intent may be part of Saudi Aramco's expansion of LNG trade, the company is increasing gas production and considering expanding LNG investment, the source said. Prince Abdul Aziz bin Salman, Saudi energy minister and chief executive officer of Saudi Aramco, said Saudi Aramco plans to become a major global natural gas player and has been developing its own natural gas resources while focusing on natural gas assets in the United States, Russia, Australia and Africa. In May this year, Saudi Aramco and Sampra energy signed a 20-year LNG supply agreement to purchase LNG from the Port Arthur, Texas export terminal under development in Sampra. Aramco also agreed to purchase a 25% stake in the first phase of the multi billion dollar project. Saudi Aramco, the Aramco trading arm, is also expected to hire a LNG trader to join its Singapore team in January, industry sources said. According to the official website of Saudi Aramco, the company also plans to hire a LNG Operation Coordinator in Singapore to support the LNG contract negotiation, LNG ship leasing and transportation business. According to the job description, the person will work closely with traders to provide operational support and jointly implement trading strategies.