In a sign of shifting energy fortunes, Saudi Aramco announced a mega preliminary agreement on Wednesday to buy 5 million tons of liquefied natural gas per year from a Port Arthur, Texas export project that's under development. If completed, the purchase from San Diego-based Sempra Energy would be one of the largest LNG deals ever signed, according to consulting firm Wood Mackenzie.
China and other developing nations have turned to LNG as a cleaner alternative to coal. The support from deep-pocketed Saudi Arabia could offset trade war headwinds facing America's US LNG industry.But US-China and US-Saudi relations are tense. China imposed a 10% tariff on US LNG in September. Earlier this month, China retaliated against new US tariffs by raising the duties on LNG to 25%. US oil, on the other hand, has been spared China's tariff wrath -- for now at least.
wow great deal ! Canada is so far behind on the energy sectors. it so pathetic what we have to deal with here in Canada .
Let me guess kushner will lead that charge not to mention handing over are nuclear programs people this administration in this family has got to go
So that's the price of a murdered citizen.
MAGA2020
Thank you President Trump!!! This would have never happened under Obama!
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