Riyadh — Mubasher: State-run Saudi Aramco is looking to be one the world’s largest natural gas players and begin a global liquefied gas business.
To this end, the world's largest oil producer is eyeing a slew of natural gas projects in Russia, Australia, America and Africa, Bloomberg News reported on Wednesday.
“Gas is a major market and we want to be one of the largest players,” the Saudi oil giant’s CEO told the New York-based news agency in an interview.
“There’s appetite to invest in natural gas and LNG,” Amin Nasser added.
The push into natural gas is a change of strategy for Aramco, which currently has a relatively small natural gas business focusing on meeting domestic demand.
Saudi Arabia’s efforts to set up a global natural gas business walk in the footsteps of regional rivals, including Qatar, the world’s biggest supplier of liquefied natural gas (LNG).
The US is also emerging as a large LNG shipper due to its booming shale gas production.
In mid- January, the Saudi Arabian Oil Co, known internationally as Saudi Aramco, said it will issue dollar-denominated bonds worth up to $10 billion over the coming period.
