Saudis ready to spend ‘billions of dollars’ on U.S. natural gas assets

Amin Nasser-Saudi Aramco

Saudi Aramco, the world’s top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend “billions of dollars” to become a global gas player, the company’s CEO said on Tuesday.

Amin Nasser told Reuters in an interview that his company wants to increase its U.S. investments. It already owns Motiva, the biggest U.S. oil refinery.

“We have agreed to bring an additional $10 billion in the Motiva refining complex,” said the chief executive, attending the World Economic Forum in Davos, Switzerland.

“We do have appetite for additional investments in the United States. Aramco’s international gas team has been given an open platform to look at gas acquisitions along the whole supply chain. They have been given significant financial firepower — in the billions of dollars.”

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