Bahri reportedly puts LNG entry on hold

Bahri’s planned entry into the LNG shipping sector has been put on hold, according to Reuters. Last December, Splash reported that the the shipping subsidiary of Saudi Aramco had issued an expression of interest (EOI) to charter up to 12 LNG carriers from 2025.

Bahri’s diverse fleet today of 90 vessels includes crude, chemical and product tankers as well as some dry bulk carriers. Saudi Aramco is keen to develop its own gas resources as well as buying overseas assets.

In May last year, Saudi Aramco signed a 20-year agreement to buy LNG from a forthcoming export terminal in Port Arthur, Texas.

Reuters cites problems with getting the go-ahead for exports out of the Texan facility as the reason for Bahri postponing its LNG entry.