LNG

July 15 (LNGJ) - Saipem, the Italian energy and LNG engineering company specialising in subsea work, has been awarded two offshore projects in Saudi Arabia under an existing long-term agreement with Saudi Aramco. “The overall contract amount of the two projects is approximately $500 million,” said Saipem.

   “Saipem’s scope of work under the first project involves the engineering, procurement, construction and installation (EPCI) of a crude trunkline of 50 kilometres with a diameter of 42 inches for the Abu Safa field, while the activities related to the second project involve the production maintenance programs of the Berri and Manifa fields,” the company added.

Temasek, the Singapore wealth fund that recently sold all liquefied natural gas interests to Shell, plans to focus on investing in Chinese companies with large domestic sales sales rather than those that depend on foreign markets.

Saudi Arabian Oil Company (Aramco), which recently signed two US LNG accords in Texas, has awarded contracts worth $25 billion to boost its own strategic natural gas production in the Middle East Kingdom.

UK major Shell has confirmed a deal as expected to acquire the liquefied natural gas assets of Pavilion Energy, the natural gas company set up by Singapore’s wealth fund Temasek to give the Asian island state energy security.

Saudi Arabian Oil Company (Saudi Aramco), the largest oil exporter, is benefiting from the decision to switch to more natural gas as Aramco shares rose after the June share offering and gas plans were advanced by the award of an engineering contract to a unit of Chinese major Sinopec.

May 31 (LNGJ) - The Government of the Kingdom of Saudi Arabia and the Saudi Aramco oil company are proceeding with a secondary share offering that could raise more than $13 billion. Aramco, which is currently seeking global LNG volumes and boosting domestic natural gas production, said the offering would be made to institutional investors in Saudi Arabia, overseas institutional investors, Saudi retail investors and investors in the Gulf Cooperation Council countries.

   The offering comprises 1.545 billion Aramco shares representing 0.64 percent of the company’s issued share capital. “The price range for the offered shares is between 26.70 Saudi riyals ($7.11) and 29.00 riyals ($7.73) per share,” Aramco said.

Saudi Arabian Oil Company (Saudi Aramco), the largest oil exporter, has just awarded a $7.7 billion engineering contract for domestic natural gas while also completing the bidding process against Shell to acquire the LNG interests of Pavilion Energy of Singapore.

Saudi Arabian Oil Company (Saudi Aramco), the largest oil exporter, plans to increase natural gas output by 60 percent to take advantage of its massive associated gas in oil fields all well as huge shale-gas reserves as Western nations stall new gas production.

Saudi Arabian Oil Company (Saudi Aramco), the largest oil exporter, posted a 25 percent plunge in annual profits, though still increased its dividend for investors and outlined its plans to investment more in LNG and in domestic natural gas output.

Singapore wealth fund Temasek is close to completing a seven-month long sale process for the Asian island nation’s Pavilion Energy set up by Temasek in 2013 to develop liquefied natural gas assets.