FINANCIAL NEWS

Saudi Arabia gas consumption grows as fast as output

25 Oct 2016

(MENAFN) Despite the rapid increase in gas output, gas consumption has increased as fast as production, competing demands from two sectors, petrochemicals and elect.

Furthermore, the pace of growth in Saudi gas demand is not likely to ease and whole elect consumption will be pushed up by industrial development.

The kingdom will need to grow gas output by an annual average rate of either 3.7 percent or 6.6 percent by 2030.

Additionally, the centrality of gas in Vision 2030, and the unsustainable and costly substitute of using crude oil in elect generation will help ensure gas development.

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