Saudi Minister of Energy: Unmatched in Reducing Energy Production Costs

Prince Abdulaziz bin Salman, Minister of Energy, declared that no one will surpass Saudi Arabia in reducing the cost of energy production in all its forms.

“Our success in Aramco, SABIC, and the energy sector at large is the fundamental driver of the possible transition in the energy sector, including our record achievements in renewable energy production. This challenge remains, and we welcome anyone to compete with us in this field,” he said.

Speaking on the sidelines of Saudi Aramco’s signing of contracts for the second phase of the Jafurah field project and the third phase of the main gas network expansion project, the Minister announced that the Jafurah project will provide two million cubic feet of gas per day, to be used during peak times. He noted that Saudi Arabia’s gas production is set to increase by more than 60% by 2030.

He added that the main gas network’s current capacity is about 4,000 km, and the project will connect 40 facilities, including electricity and water desalination plants and petrochemical production plants and factories.