Shine Trader Live reports:
Saudi Arabia has the largest natural gas reserves in the Arab world after Qatar, according to BP Plc. The Jafurah field is a priority for the Saudi government as it seeks to reduce its dependence on crude oil exports. The field is estimated to hold 200 trillion cubic feet of abundant feedstock gas, and Aramco is expected to begin production there in 2024, reaching sales of about 2.2 billion standard cubic feet per day by 2036.
Since Aramco was fully nationalized in 1980, most foreign investment in Saudi Arabia’s energy sector has been restricted to downstream assets such as refineries and petrochemical plants. Aramco has previously formed joint ventures with the likes of Royal Dutch Shell Plc and TotalEnergies SE to explore for natural gas in Saudi Arabia.
Since listing in 2019, Aramco has increasingly opened its doors to overseas investors to finance its $75 billion dividend commitment and huge capital expenditure needs. In June, Saudi Aramco sold minority stakes in its pipelines to foreign investors for $12.4 billion.
Separately, media reported last month that the company was considering selling a minority stake in its gas pipeline business to raise at least $17bn.
Reprint indicated source：Shine Trader Limited Live information