Saudis Lean on Oil-Trading Contacts in Push to Become Big in LNG - Bloomberg:
The biggest oil exporter is stepping up its efforts to become a major force in natural gas.
Saudi Aramco, the world’s most profitable company, is trying to break into the fledgling market for liquefied natural gas trading. To do so, the state-owned company is tapping its decades-old network of oil-trading contacts, selling its first two cargoes to longstanding crude customers in South Korea and India.
Aramco is joining oil companies from Royal Dutch Shell Plc to BP Plc in increasingly focusing on liquefied natural gas, the fastest-growing fossil fuel. That comes as production soars with the start of multibillion-dollar liquefaction plants across the world, creating a glut that may last until the middle of the next decade.
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