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FINANCIAL NEWS
Aramco to double power supply
16 May 2011
(MENAFN) Aramco Power Systems’ executive director, Ziyad Al Shiha, said that due to the world’s largest state owned oil company’s plans to supply all the electricity needed for producing crude and natural gas, it would double its power generating capacity to 4,000 megawatts by 2015, reported Bloomberg.
Al Shiha added that the Saudi company would increase its power plants at existing oil and gas locations; in addition, it would build generators for refineries and other facilities that are under construction. On the other hand, Aramco would boost its generating capacity to as much as 4,700 megawatts from the current 2,000 megawatts and the additional capacity wouldn’t be part of the national power grid and would make the company independent in power by 2015.
He also said that Saudi Arabia and other Gulf oil producers would enhance power supplies to meet the demands of growing economies and populations, at the same time; they would decrease their dependence on crude and gas as fuel for power stations.
It is worth noting that Saudi Arabia has an overall generating capacity of about 45,000 megawatts. By 2018, this is likely to almost double to 75,000 megawatts and increase to more than 120,000 megawatts by 2030.
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