US LNG exports maintain upward trajectory in 2024

US LNG shipments for 2024 are set to record 86.9 mn metric tons as record domestic natural gas drove the 10th straight year of volume growth in the LNG sector, Reuters reports, citing ship-tracking data from Kpler. The total exports are up 0.8% y-o-y to 720K tons, sustaining the expansion of US LNG exports despite brief outages and delays at new projects under development.

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An attractive market for the GCC: Aramco was set to expand its stake in MidOcean Energy to 49% in September. Saudi’s Aramco inked a heads of agreement contract back in June for a 20-year sale and purchase agreement for LNG offtake from the Port Arthur LNG phase two expansion project, according to a statement. The Saudi firm also acquired 100% of Motiva Trading by the Aramco Trading Company and launched Aramco Trading Company LLC back in January 2023, according to a statement. Adnoc obtained an 11.7% stake in a Texas LNG export facility owned by natural gas company NextDecade and signed a supply agreement back in May.

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