The Saudi state-owned oil major Aramco has big plans for its future in fossil fuels, despite calls for a global green transition. The oil and gas firm is investing heavily in a future in LNG, solidifying its position in the international market as demand continues to grow. This year, it has announced several big LNG investments, in line with the company’s development plan.
, with reserves of 229 trillion cubic feet of gas and 75 billion barrels of condensates. Phase One of development at Jafurah commenced in 2021 and initial start-up is expected in late 2025. Aramco expects the total lifecycle investment in Jafurah to exceed $100 billion, achieving a projected output of two billion standard cubic feet per day by 2030, as well as large volumes of ethane, NGL and condensate.
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