Aramco Trading Company (ATC), Saudi Aramco’s trading subsidiary,has managed to sell its first liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, according to Bloomberg.
ATC sold the LNG shipment from Singapore, according to Aramco’s CEO, Amin Nasser.
It is worth remarking that Saudi Aramco has been trying to increase its production of LNG and to expand its business in the oil and gas industry. In addition to that, the kingdom is looking for potential ventures and partnerships.
Nasser pointed out that “there is a lot of potential to grow our gas in the kingdom. At the same time, we are looking at international gas.”
Furthermore, Saudi Aramco plans to buy a controlling stake in the Middle East’s largest petrochemicals maker, Saudi Basic Industries Corporation, and is investing in refineries in Asia and beyond.