Aramco, one of the world's leading integrated energy and chemicals companies, has announced 17 Memoranda of Understanding (MoUs) and agreements with a potential total value of more than $30 billion with major companies in the US, through its Aramco Group Companies.
These MoUs and agreements build on the 34 MoUs and agreements announced in May, which had a potential total value of approximately $90 billion, all supporting toward unlocking potential collaboration opportunities with companies in the US valued at around $120 billion.
The MoUs and agreements announced are expected to support Aramco's strategic growth objectives while enhancing shareholder value, and involve collaborations and partnerships covering a range of activities including Liquefied Natural Gas (LNG), financial services, advanced composite materials manufacturing, and procurement of materials and services.
The announcement coincides with the US-Saudi Investment Forum 2025 in Washington, DC, and builds on Aramco's long history of partnership with US companies spanning more than nine decades.
Amin H. Nasser, Aramco President & CEO, said that since the 1930s, US firms have played a major role in supporting the company's success, contributing to the first production of oil in Saudi Arabia, growth of the gas business, expansion of integrated downstream operations, development of advanced digital technologies, AI and R&D, and upskilling of many Aramco employees in the US. He said the newly announced MoUs and agreements are expected to act as a springboard for further progress.
The new MoUs and agreements announced by Aramco include:
LNG - MidOcean Energy: MoU related to potential investment in the Lake Charles Liquefied Natural Gas Project.
- Commonwealth LNG: related to a liquefaction project located in Louisiana, US, and Aramco Trading's potential purchase of LNG and gas.
Advanced Materials Manufacturing - Syensqo: extension of MoU to explore localization of carbon fiber and advanced composites for industrial applications.
Procurement of Materials & Services: Contracts and agreements reflecting relationships with strategic US suppliers including SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor, providing high-standard materials and professional services that help support Aramco's projects and operations.
Financial services:
- Wisayah asset management and investment agreements with Loomis Sayles, Blackstone, and PGIM, Inc. - J.P. Morgan: Strategic collaboration for cash account management.
Source: www.aramco.com
