Saudi Aramco (TADAWUL: 2222), the world’s largest oil company, has announced a slate of 34 preliminary agreements with U.S.-based energy firms, potentially valued at $90 billion, marking a major expansion of energy cooperation between Saudi Arabia and the United States.
The deals were unveiled during the visit of former U.S. President Donald Trump to Saudi Arabia and are part of broader efforts to deepen economic ties and bolster investment flows between the two countries.
Among the most significant agreements are multi-billion-dollar memorandums of agreement (MOAs) with U.S. liquefied natural gas (LNG) developer NextDecade Corporation and California-based energy infrastructure giant Sempra Energy. These potential partnerships reflect Aramco’s strategic focus on diversifying its energy portfolio, particularly in natural gas, and strengthening its global downstream footprint.
“Saudi Aramco is committed to growing its global presence and further integrating its operations with strategic partners,” the company said in a statement. “These agreements will help us meet long-term demand for reliable and affordable energy while also enabling U.S. companies to access significant opportunities within the Kingdom.”
The deals span a wide range of sectors, including oilfield services, refining, petrochemicals, power generation, and technology transfer. While not all agreements are binding at this stage, they represent a clear signal of intent and lay the groundwork for further negotiations and potential joint ventures.
The announcements are part of Aramco’s Vision 2030 objectives, which aim to transform Saudi Arabia’s economy through diversification and international investment. The partnerships with American firms are also aligned with the broader U.S.-Saudi Strategic Partnership Framework, underscoring the geopolitical and economic importance of energy collaboration.
U.S. companies involved in the agreements are expected to benefit from expanded access to Saudi Arabia’s growing energy market, while Aramco continues to position itself as a key global player in both traditional and emerging energy sectors.
Further details on individual projects and timelines are expected to be released following the conclusion of detailed feasibility studies and regulatory approvals.
Aramco Tower Hq Picture on Wikimedia by Ali Lajami
