Saudi Arabia’s Minister of Energy Prince Abdulaziz Bin Salman has stated that a large amount of gas would be provided through a new network of pipelines to meet the growing needs of all of the Kingdom’s central areas.
Prince Abdulaziz commented that the Kingdom will be the investor in the new gas network, and Aramco will be the one to manage and implement the project.
“All industrial cities and factories in Al-Qassim, Al-Kharj, and Sudair will be provided with gas. Saudi Aramco will continue expanding its gas exploration programs to provide huge quantities of gas to cover the needs of all the cities across the Kingdom,” he said.
According to the minister, the project’s financial allocation from the Kingdom’s budget will not exceed around $1.3-1.5 billion (SR5-6 billion), since the majority of the cost will be covered by investments. “At least 17 entities are participating and working in this program, including Saudi Aramco, SABIC, SEC, ACWA Power, and companies from the chemical sector,” Prince Abdulaziz added.
Saudi Aramco President and Chief Executive Officer Mr. Amin Nasser noted that the great achievement in the unconventional gas field has come at an ideal time, as the world is witnessing a major transformation in the energy sector. Saudi Arabia will become the third-largest global producer of natural gas by the end of this decade.
Several policymakers in many countries of the world have failed to achieve a balance between these three components. “The Kingdom is topped and distinguished itself over the countries of the world, as gas today meets all these components, as it is considered as a reliable source of energy, and is available at reasonable prices,” he added.
Mr. Nasser further remarked that “gas is an essential resource that the entire globe should resort to in order to overcome the issues posed by renewable energy source interruptions, as natural gas produces half of the carbon emissions compared to coal when used to generate electricity.”