Saudi Aramco on 20 March announced ambitious plans to increase gas production by 50% by 2030. The Saudi energy giant unveiled the plans alongside its 2021 full year results (MEES, 25 March), with CEO Amin Nasser highlighting the need to displace oil from the power sector, as well as to supply feedstock for an expanding petrochemicals sector and planned blue hydrogen facilities.
Sales gas production averaged a record 9.2bn cfd in 2021, including a single-day output record of 10.8bn cfd. The previous records of 9.03bn cfd and 10.7bn cfd respectively had been set in 2020, and the 170mn cfd year-on-year increase was the fastest annual increase since 2017. Sales gas output has now increased for 15 consecutive years (see chart), and with the easing of Opec+ production cuts resulting in higher associated gas production this year, a 16th annual rise looks on the cards for 2022. (CONTINUED - 971 WORDS)