Saudi Aramco To Expand Natural Gas Output Capacity by 60%

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Saudi Aramco To Expand Natural Gas Output Capacity by 60%
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After scrapping oil capacity expansion plans earlier this year, Saudi state oil giant Aramco is now poised to boost natural gas output by 60% by 2030

, Reuters reports, citing an Aramco executive on the sidelines of the Houston CERAWeek energy conference. In the third quarter of last year, Saudi Arabia made two significant natural gas discoveries in two fields in the Empty Quarter, along with the discovery of five reservoirs in previously discovered fields. At the Al-Hiran field, gas flowed at a rate of 30 million cubic feet daily. At the Al-Mahakik field, the gas flow was 0.85 million cubic feet daily.

The Saudis’ growing interest in natural gas has also led to the Kingdom’s first acquisition in the LNG space earlier this year. Earlier this month, Reuters cited unnamed sources as saying that Aramco and Abu Dhabi National Oil Company ADNOC are in talks to invest in American LNG in order to compete with Qatar, which lost its ranking to the U.S. in January as the world’s largest LNG exporter.

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