Aramco Seals $30B MoUs With U.S. Firms on Crown Prince Visit

Saudi Aramco announced that it had signed 17 preliminary agreements with U.S. companies, valued at over $30 billion overall, during a visit to Washington by the Saudi Crown Prince. The projects cover liquefied natural gas, financial services, advanced materials manufacturing, and procurement of materials and services, according to a statement.

Saudi and U.S. officials highlighted billions of dollars in new investments and strengthening financial ties between the two nations on the same day, aligning with Saudi Arabia’s de facto leader, Crown Prince Mohammed bin Salman’s visit to the White House.

“We expect the multi-billion-dollar MoUs and agreements announced today to act as a springboard for further progress,” said Aramco CEO Amin Nasser, also emphasising the goal to enhance collaboration with American firms.

These agreements expand on earlier memoranda of understanding signed during a Gulf countries tour by U.S. President Donald Trump in May, when Aramco signed 34 preliminary deals worth up to $90 billion. 

As part of its plan to become a major LNG player in the U.S., Aramco’s Wednesday MoUs include a partnership with MidOcean Energy for potential investment in the Lake Charles LNG project and a deal with Commonwealth LNG for a liquefaction project in Louisiana.

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Additionally, the company announced collaborations with energy firms Baker Hughes and Halliburton, and financial firms Blackstone and JPMorgan.