Aramco is building a large U.S. partnership pipeline. On May 14, it announced 34 Memoranda of Understanding (MoUs) and agreements with major U.S. companies, with a potential total value of approximately $90 billion. These Aramco US partnership deals sit across many parts of its business, not only oil.
The 34 MoUs and agreements cover Liquefied Natural Gas (LNG), fuels, chemicals, emission-reduction technologies, Artificial Intelligence (AI) and other digital solutions, manufacturing, asset management, short-term cash investments, and procurement of materials, equipment, and services. Some items are non-binding, and some projects are subject to a final investment decision. Still, the scope shows a clear intent to deepen cross-border links with U.S. industry.
Three numbers define the pipeline: 34 MoUs and agreements, a potential total value of about $90 billion, and one LNG purchase agreement for 1.2 million tonnes per annum for a 20-year term. Together, these figures show both breadth (many deals) and commitment (a long-term supply contract).
What the Pipeline Suggests About Cross-Border M&A
Even when agreements start as MoUs, they can act like a scouting map for future investments, joint ventures, and acquisitions. Gulf News framed the May 14 announcements as a move to boost Aramco’s long-term growth strategy and expand its presence across sectors, from traditional oil and gas to AI and manufacturing. That is the same logic many companies use before making bigger cross-border moves.
Several named items show where Aramco could concentrate capital. In downstream, Honeywell UOP is tied to technology licensing for an aromatics project. Motiva signed an MoU related to an aromatics project in Port Arthur, subject to a final investment decision. ExxonMobil signed an MoU to evaluate a significant upgrade to the SAMREF refinery and expand it into a world-class integrated petrochemical complex. Afton Chemical focuses on chemical fuel additives for pipelines and retail fuel offerings.
On the upstream side, LNG stands out. Aramco signed with Sempra Infrastructure on Port Arthur LNG 2, and with Woodside Energy to explore global opportunities including an equity interest and LNG offtake from the Louisiana LNG project, while also exploring lower-carbon ammonia collaboration. It also reached a final agreement with NextDecade to purchase 1.2 million tonnes per annum of LNG for a 20-year term from Train 4 of the Rio Grande LNG Facility, subject to certain conditions, including a positive final investment decision of Train 4.
What are Aramco US partnership deals worth in total?
How many agreements did Aramco announce with U.S. companies?
Which areas do the U.S. MoUs cover?
What is the LNG purchase agreement mentioned in the announcements?
