The world’s largest oil company Saudi Aramco seems to have surprised the global energy markets the last couple of days. New announcements of multi-billion dollar investments in gas related operations, indicating a new move to make Saudi Arabia a major gas exporter, have been made public by the company’s CEO Amin Nasser. This ‘strategic pivot’ may come as a surprise, as Aramco is mainly known as a producer of crude oil. The reality, however, is different as the Kingdom has not only been quietly investing in upstream gas projects, it is also sitting on some of the largest natural gas reserves in the world. At a conference in Dubai, Amin Nasser stated that that Aramco will be committing around $150 billion in investments in the next 10 years, targeting a gas production of around 23 bcf per day, an increase of 9 bcf from the current 14 bcf. The […]