Q: Aramco recently increased its gas growth target to 80% by 2030. Can you outline Aramco’s gas growth strategy and how you plan to achieve it?
A: Aramco is currently executing the most ambitious gas programs in its history, with four mega-gas projects and multiple gas discoveries in both conventional and unconventional reservoirs, including Jafurah; currently one of the largest unconventional gas fields in the region.
We are also utilizing advanced technologies, such as artificial intelligence, autonomous systems, and data-rich planning, to help improve operational efficiency and reduce costs. This combined approach helps Aramco to optimize its gas production and support the growing demand for gas in the Kingdom. As a result, the Company’s integrated gas program, which includes gas as well as associated liquids, is expected to reach around 6 million barrels of oil equivalent per day by 2030, potentially generating $12-15 billion in incremental operating cash flow compared with 2024 levels.
This increase in gas production is expected to play a crucial role in supporting the rising demand for gas from utilities, industries, and petrochemical sectors in the Kingdom. The growth of these key industries will contribute to the Kingdom’s GDP. In addition, Aramco’s gas growth strategy will further enhance the Kingdom’s energy security and support its economic diversification efforts through the Company’s ambitions to provide a reliable and stable gas supply.
Aramco’s gas growth strategy is a critical component of the Company’s long-term vision, aiming to create value for stakeholders while supporting the Kingdom’s economic growth and development. The successful implementation of this strategy will help change the Kingdom’s energy landscape and contribute to a more sustainable, diverse, and thriving economy.
Saudi Arabia’s Giant Jafurah Basin
Q: How important will development of unconventional gas reserves be for implemeting this strategy?
A: The expected contribution from unconventional gas reserves is crucial to Aramco’s strategy, as evident from the development of the Jafurah field, currently one of the largest unconventional gas fields in the region, which is progressing as we speak.
With its significant reserves, Jafurah is expected to deliver substantial volumes of gas and associated liquids, making it one of the key components of Aramco’s growth plans. By 2030, Jafurah is expected to produce 2 billion standard cubic feet per day of sales gas, 420 million standard cubic feet per day of ethane, and 630,000 barrels per day of associated liquids, underscoring the importance of unconventional gas reserves to Aramco’s strategy.
Q: What is the investment case for large-scale gas development?
A: Aramco views the investment case for large-scale gas development as a highly compelling and strategic opportunity, driven by a robust foundation of growing gas demand, strategic diversification, economic benefits, and efforts to reduce its carbon footprint.
Global energy consumption is expected to grow by 25% in 2050, compared to 2020 levels. With the global population projected to grow and urbanization rates expected to increase, the demand for natural gas is anticipated to rise, driven by its potential to provide a more reliable source of energy while helping to reduce greenhouse gas emissions. This trend is expected to continue, with natural gas playing a significant role in the global energy landscape.
In addition to these global trends, domestically, the Kingdom’s ambitious vision for substantial economic growth, coupled with high energy demand, create a unique opportunity for Aramco to diversify its energy mix. Aramco aims to generate economic benefits by investing in large-scale gas development, including promoting economic diversification, supporting the development of related industries, and contributing to the growth of the Kingdom’s economy.
Aramco’s investment in gas is also aligned with its efforts to focus on mitigating the environmental impact of its operations and contribute to a more sustainable energy future. This supports the Kingdom’s broader climate goals and reinforces the increasingly critical role of gas in enabling a lower-carbon future.
Q: Global electricity demand forecasts are being revised up because of the rise of Artificial Intelligence. What is the Kingdom’s competitive advantage in this area?
A: The Kingdom’s competitive advantage in meeting the increased electricity needs from data centers lies in its unique combination of abundant natural resources, rapidly expanding renewables, and a modern, integrated grid infrastructure.
This vision builds on a natural gas ecosystem, solar and wind resources, and advanced technologies across generation, transmission, and storage.
This combination gives the Kingdom one of the strongest foundations for powering AI data centers, industrial clusters, and advanced manufacturing hubs at scale.
*Interview conducted over email by Managing Editor Jamie Ingram
