Saudi Arabia has agreed to purchase U.S. liquefied natural gas from Sempra Energy, a new strategic direction for the kingdom as it seeks to establish a footprint in the growing global market for the fuel.
Saudi Arabian Oil Co., known as Aramco, plans to purchase gas from San Diego-based Sempra Energy’s SRE, +0.24% Port Arthur project in Texas, people familiar with the matter said.
The financial terms of the deal couldn’t be determined, and it wasn’t clear whether Aramco would also take an equity stake in the project, the people said.
Aramco had been expected to close a deal to purchase LNG after holding talks with several U.S. producers and a Russian producer in recent months. It isn’t clear whether the gas will be used to power the kingdom’s local economy, or sold on to international buyers.
An expanded version of this report appears on WSJ.com.
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