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The Saudi oil giant Aramco, which has an ambitious plan to expand its natural gas business, is negotiating with many partners for a possible joint venture or partnership, in order to strengthen its position in international gas, said Thursday the director general of Saudi Aramco, Amin Nasser.
"At the moment, we are looking at a possible joint venture or partnership," Reuters quoted Nasser as saying, quoted by Reuters news agency, in Riyadh today.
Aramco has already sold its first shipment of liquefied natural gas (LNG) from Singapore, said the company's general manager.
In January of this year, Nasser told Reuters in an interview that the oil company plans to spend billions of US dollars on natural gas acquisitions in the United States as part of Aramco's strategy to strengthen its gas business. and to become a global player in natural gas.
In late February, Nasser said Saudi Arabia plans to export up to 3 billion cubic feet of gas a day by 2030 as part of its goal of strengthening the economy. International footprint of its natural gas business.
Aramco will only develop Saudi Arabia's conventional and unconventional gas reserves, and export options include exports via pipelines and LNG, according to Aramco's chief executive.
In November 2018, Nasser said that Aramco, already one of the world's largest oil producers, but with less gas production, would step up efforts to increase natural gas production from conventional and unconventional reserves.
Saudi Aramco's gas development program is expected to attract up to $ 150 billion in investment over the next decade, Nasser said. Natural gas production is expected to grow from 14 billion cubic feet per day to 23 billion standard cubic feet a day, said the top Aramco executive in Dubai a few months ago.
"We also have world-class unconventional gas resources that quickly complement our vast conventional resources. Since a large proportion of this unconventional gas is rich in liquids and ethane, its production will play an important role in furthering the growth of the Kingdom's chemical sector, "said Nasser.
By Tsvetana Paraskova for Oilprice.com
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