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Aramco Boosts Natural Gas Output, Targets Major LNG Portfolio Growth

Natural Gas Intelligence · last updated

Saudi Arabian Oil Co., better known as Aramco, is aiming to build a long-term LNG portfolio of 20 million tons/year (Mt/y) as the oil giant looks to expand its reach into low-emission fuels, said CEO Amin Nasser.

Aramco’s Hawiyah Natural Gas Plant in Saudi Arabia featuring extensive industrial infrastructure, tall processing towers, pipelines, and storage tanks under a clear blue sky.

The company has not ruled out one day exporting the super-chilled fuel, but its growing natural gas production is mainly for domestic use. For now, it is working to finalize or has signed contracts for 7.5 Mt/y of LNG supplies, mainly through offtake and equity deals.

“We continue to evaluate a lot of opportunities currently in our pipeline,” Nasser told analysts during Aramco’s second quarter earnings call.

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