Saudi Aramco is entering the global LNG business by signing a deal to buy a minority stake in LNG company MidOcean Energy, which is in the process of acquiring interests in four Australian LNG projects, the Saudi state oil giant said on Thursday. Aramco has signed the definitive agreements to buy a strategic minority stake in MidOcean Energy for $500 million, which is the Saudi firm’s first international investment in LNG. MidOcean Energy is formed and managed by EIG, an institutional investor in the global energy and infrastructure sectors,…
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