Saudi Aramco Invests Billions in Jafurah Gas Project, Boosting Future Energy Production
Key Ideas
- Saudi Aramco has awarded construction contracts worth $25 billion for the development of its Jafurah gas project to increase gas production and reduce emissions.
- The Jafurah field, with an estimated 200 trillion cubic feet of gas, is set to boost the firm's gas production by over 60% by 2030.
- The investment in gas infrastructure highlights Aramco's commitment to gas as a key energy source and feedstock for downstream industries, intending to meet rising demand.
- Gas from the Jafurah project will initially supply domestic industries, with potential for excess capacity to be used in blue hydrogen production or exported as LNG.
Saudi Aramco has allocated $25 billion in construction contracts for its Jafurah gas project to enhance gas production and reduce emissions. The project includes increasing gas output at Jafurah and expanding the master gas system. With rich gas reserves, notably the Jafurah field estimated to hold 200 trillion cubic feet of gas, the company plans to elevate gas production by over 60% by 2030. This move reflects Aramco's confidence in gas as an essential energy source and feedstock for downstream industries. CEO Amin Nasser emphasized the strategic investment's aim to cater to growing energy demand. Additionally, Aramco intends to utilize the gas initially for local industries, with surplus capacity earmarked for potential blue hydrogen production or LNG exportation.