GENERICO.ruЭкономикаExpert assesses Saudi Arabia's plans to increase gas production

Expert assesses Saudi Arabia's plans to increase gas production

MOSCOW, August 2 Saudi Arabia has set a fairly ambitious goal — to increase gas production in the country by 60% by 2030, but it is unlikely to overtake the largest producers — the United States and Russia, according to a comment from the company's project manager «Implementa» by Ivan Timonin.
Saudi Aramco signed more than $25 billion in deals a month earlier to expand its gas projects, including a second phase at the Jafurah gas field, one of the world’s largest, with proven reserves of 6.5 trillion cubic meters of gas. Riyadh aims to boost gas production by more than 60% by 2030 compared with 2021 levels.

Saudi Arabia produced 114 billion cubic meters of natural gas in 2023, and the level has not changed significantly since 2021. Accordingly, by 2030, the country plans to produce more than 180 billion cubic meters, Timonin noted.
“Considering that over the past five years, production volumes have actually stagnated, this goal can be considered quite ambitious, but still not comparable with the indicators of the largest producing countries,” the expert believes.
The largest gas producers, according to the Energy Institute, are the USA, Russia, Iran, China and Canada. At the end of 2023, according to his statistical review of world energy, the United States produced just over 1 trillion cubic meters of gas — 25.5% of the total share of gas production in the world. Russia – 586.4 billion cubic meters with a share of 14.4%.

Iran, which took third place, produced a little more than 250 billion cubic meters of gas — 6.2%, and China, next with a share of 5.8%, produced more than 15 billion cubic meters less. Finally, production in Canada amounted to 190 billion cubic meters of gas – 4.7%. Saudi Arabia, with 114 billion cubic meters in 2023, had a share of 2.8%. It is located on the seventh line, the closest Qatar has 4.5%, it produced just over 180 billion cubic meters.

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