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Saudi Aramco signs MoU with Shell on gas projects

Saudi state-owned company signed on Thursday a memorandum of understanding with Royal Dutch Shell on natural gas projects within the framework of Saudi Arabia's move to diversify its economic resources.

Under the memo, gas upstream and liquefaction projects will be carried out.

The preliminary deal will lure more investments to the oil giant Aramco.

The memo was inked in London the official visit of Saudi Crown Prince Mohammed bin Salman to Britain.  

Saudi Energy Minister Khaled Al Faleh, Aramco's CEO, said the company is interested in investing in international projects.

The kingdom plans to expand natural gas use in power stations.

At the end of 2017, Aramco signed $ 4.5 billion agreements with European, American, Chinese and UAE companies to implement oil and gas projects in the kingdom.

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