Heard on the Street: Why Saudis want American gas
Saudi Arabia has finally found a deal that makes sense. After forays into companies such as Uber, state-controlled oil giant Saudi Aramco has lined up a deal to buy liquefied natural gas from U.S. utility Sempra Energy.
It gives the kingdom access to a business it knows and a commodity that has recently attracted its focus. But the investment also underscores the challenges it faces as petroleum’s supremacy recedes.
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