U.S. in Talks with Saudi Arabia about Potential LNG Export

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The U.S. has discussed with Saudi Arabia regarding possible exports of LNG from the U.S. The possible trade opportunity was discussed in the U.S. Secretary of Energy’s meetings with leading Saudi officials earlier this week, the secretary, Rick Perry, said during a conference in Abu Dhabi on Wednesday. Secretary Perry was in Saudi Arabia before visiting UAE to take part in the Carbon Sequestration Leadership Forum held in Abu Dhabi, where energy topics were discussed with the minister of Energy of Saudi Arabia, Khalid al-Falih.

A memorandum of understanding was signed by al-Falih and Secretary Perry for the purpose of establishing an agenda for mutually beneficial collaboration in the field of carbon management and fossil fuels. Discussions regarding LNG exports from the U.S. to the UAE.

According to statistics from the U.S. DoE (department of energy), the U.S. exported LNG to a total of 26 countries between February 2016 and September 2017. At the start of this, the IEA (International Energy Agency) stated that owing to the remarkable rise in the production of shale gas in the U.S., which is presently the leading producer and consumer of gas, the country will account for over 40% of the extra gas produced across the globe by 2022.

According to the IEA, over 50% of the gas produced in the country will be used for LNG exports and the country could also challenge Australia and Qatar in terms of LNG exports by the year 2022, all thanks to the U.S. shale revolution.

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