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FINANCIAL NEWS
Saudi Arabia to double gas output by 2030
13 Nov 2014
(MENAFN) Saudi Arabian Oil Ministry announced it is planning to double its natural gas output by 2030 but plans to keep all of the increased in the kingdom to help it fuel domestic growth, Gulf Business reported.
Saudi, which is the world’s top oil exporter, said that it is not planning to import the new amount of gas but to use it in meeting the country’s own rising energy demands, including both power generation and water desalination in addition to developing its growing mineral industry.
Saudi Arabia, which has the world’s fifth-largest natural gas reserves at 291 trillion cubic feet (tcf), currently has an estimated 300 trillion cubic feet (tcf) in gas reserves.
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