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Saudi Aramco and ADNOC sign framework agreement

Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) have signed a framework agreement to explore opportunities for collaboration in the Natural Gas and Liquefied Natural Gas (LNG) sector.



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The cooperation brings together two of the world’s leading energy producers from the Arabian Gulf to jointly work together in an area of strategic importance for both companies as they seek to boost revenues from the natural gas and LNG business segments.

The agreement was signed by Amin H. Nasser, Saudi Aramco President and CEO, and His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO on the sidelines of ADIPEC.

Saudi Aramco and ADNOC will jointly assess investment opportunities across the natural gas and LNG value chain, exchange technical knowledge and expertise in natural gas and LNG growth markets.

“The UAE and the Kingdom of Saudi Arabia have a strong relationship built on shared strategic interests. Increased cooperation between ADNOC and Saudi Aramco will ensure greater energy security and long-term economic prosperity for both nations,” said Al Jaber.

LNG is the fastest-growing hydrocarbon with a growth rate of 4% per annum. Global LNG demand is expected to exceed 500 million tonnes per annum by 2035, up from nearly 300 million tonnes per annum in 2017.

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