Saudi Aramco is looking to attract investments worth $150 billion over the next 10 years in order to become a natural gas exporter, Aramco CEO Amin Nasser said on November 27, Reuters reported.
“Our gas program… will attract investments of about $150 billion over the next decade,” Nasser said.
Aramco plans to increase gas production to reach 23 billion standard cubic feet (scf), up from 14 scf, Nasser told a chemicals industry event in Dubai.
“We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources,” Nasser added.
The company’s plan comes in line with its targets to satisfy the local market needs and become a net gas exporter as well.