Saudi giant signed agreements and MoUs covering areas including liquefied natural gas, financial services, and advanced materials manufacturing
Saudi Aramco has signed 17 Memoranda of Understanding (MoUs) and agreements with major US companies with a potential total value of more than $30 billion, the state giant said on Wednesday.
The MoUs and agreements include a potential investment in the Lake Charles liquefied natural gas project signed with MidOcean Energy, as well as a deal linked to Commonwealth LNG in Louisiana and the potential purchase of LNG and gas.
Details of individual deal values were not provided.
In addition to the LNG projects, the MoUs and agreements announced on Wednesday also cover financial services, advanced materials manufacturing, and materials and services procurement, Aramco said.
Aramco also announced contracts and agreements with US suppliers including SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor.
The announcement coincides with the US-Saudi Investment Forum 2025 being held in Washington, DC.
The latest developments add to the 34 MoUs and agreements signed between Aramco and US companies that were announced in May with a potential total value of almost $90 billion.
In a statement issued by Aramco, chief executive Amin Nasser highlighted ties with US companies stretching back to the 1930s.
“We expect the multi-billion dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco’s longstanding legacy of collaboration with American counterparties and unlocking new value creation opportunities that promote innovation and growth,” he said in a statement.
US President Donald Trump held talks with Saudi Arabia’s Crown Prince Mohammed bin Salman at the White House on Tuesday, during which the Crown Prince said that his country is to increase investment in the US to almost $1 trillion.
Saudi Arabia had previously committed to investing $600 million in the US, announced during Trump’s visit to the Middle East in May.
