Saudi Arabia has officially announced the launch of operations at the Hawiyah Gas Storage facility, reported Arab News.
Aramco’s First LNG Project
Developed by Aramco, the project marks the first Saudi facility dedicated to storing natural gas through the injection of processed fuel.
The state-of-the-art facility is basically designed to reproduce up to 2 billion standard cubic feet of natural gas per day into the Kingdom’s Master Gas System.
This system represents an extensive network of pipelines connecting main production and processing sites to several customers across the Kingdom.
Revolutionary Transformation
Since the launch of Saudi Vision 2030, the Kingdom has firmly decided to set renewable energy and natural gas as the two primary alternatives, a strategic step that can enable the Kingdom to generate 50% of its electricity from renewable sources.
Thus, the current project aims to displace 1 million barrels per day of liquid fuel across the utilities, industrial, and agricultural sectors by the end of this decade.
The launch of operations represents a remarkable milestone in Saudi Arabia’s transformative path toward the full use of environmentally friendly gas.
Remarkable success
The project stands as a testament to the tireless efforts and successful initiatives of the National Center for Environmental Compliance.
Such initiatives support private sector factories in transitioning from production lines to more eco-friendly alternatives. They aim to cut dependency on environmentally harmful products due to their severe damage to the ozone layer and global warming.
Intensified Efforts
Saudi Aramco is seriously attempting to secure a pioneering status in the liquefied natural gas (LNG) market.
Therefore, the giant oil company acquired a minority stake in MidOcean Energy from EIG Global Energy Partners for $500 million in 2023.
Consequently, Aramco embarked on its first international investment in LNG through a strategic partnership with MidOcean Energy.
MidOcean Energy is currently planning to acquire interests in four Australian LNG projects, with a growth strategy revolved around establishing a diversified global business.
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