Saudi Arabia is one of the world’s 10 largest natural gas producers, according to the World Energy Council. Saudi Energy Minister Khalid al-Falih has said that huge gas reserves had just been discovered in the Red Sea, according to the Saudi Press Agency (SPA).
Falih also said Saudi Aramco, the country oil giant, was studying possible Liquified Natural Gas (LNG) project acquisition opportunities in the United States, adding that Aramco also aims to invest in South Africa, where is studying a petrochemicals project.
Last week, Saudi Aramco’s chief executive Amin Nasser, said at an industry event in London that Saudi Arabia aims to export as much as 3 billion cubic feet of gas per day by 2030 as part of its goal to boost the international footprint of its natural gas business.
The top Aramco executive pointed out that natural gas production was expected to jump to 23 billion standard cubic feet a day from the current 14 billion cubic feet a day.
Saudi Aramco’s gas development programme is expected to attract as much as $150 billion in investment over the next decade.