Adnoc Buys Stake in LNG Development in Mozambique From Galp [BNN Bloomberg (Canada)]
NextDecade Corporation (NEXT)
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Source: BNN Bloomberg
Abu Dhabi National Oil Co. will buy the stake in the Area 4 concession from Galp Energia SGPS SA, according to a statement Wednesday. It comes days after the UAE company made its first acquisition in the US by picking up a share in NextDecade Corp.'s LNG project in Texas. The Mozambique deal will give Adnoc a share of the LNG production from the concession, which has a potential combined production capacity of more than 25 million tons a year. The company has been scouring the world for assets. It's in talks to buy a chemical company in Europe and is also looking to combine one of its units with subsidiary of Austria's OMV AG to create a $30 billion petrochemical giant. That push coincides with Saudi Aramco's efforts to boost its global presence, after agreeing to buy an LNG company in Australia. ©2024 Bloomberg L.P. Top Picks Top Stories Freeland says government will introduce capital gains legislation before summer break Latest CPI data points to a June rate cut, econ
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News
- NextDecade (NEXT) and Saudi Aramco Sign 20-Year LNG Agreement [Yahoo! Finance]Yahoo! Finance
- Saudi Aramco signs 20-year LNG supply deal with NextDecade [Yahoo! Finance]Yahoo! Finance
- Aramco and NextDecade Announce Heads of Agreement for the 1.2 MTPA Long-Term Offtake of LNG from the Rio Grande LNG Facility [Yahoo! Finance]Yahoo! Finance
- Aramco and NextDecade Announce Heads of Agreement for the 1.2 MTPA Long-Term Offtake of LNG from the Rio Grande LNG FacilityBusiness Wire
- Sinopec secures $1.1bn gas pipeline contract from Aramco [Yahoo! Finance]Yahoo! Finance
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