Saudi Arabia is likely to advance six places among the top global gas producers after it was ranked ninth in 2018, while an illustration by the Ministry of Energy showed that it will become the third-largest gas producer in 2030.
According to the analysis of the reporting unit in the newspaper "Al-Iqtisadiya", based on the latest data of "BP", Saudi Arabia came in ninth in the world in terms of natural gas production by about 112.1 billion cubic meters, representing 2.9 percent of global production in the same year of about 3.87 trillion meters Cubic, and 4.1 percent of the production of the top ten gas producing countries.
Saudi Arabia raised its natural gas production by 47 percent in the last ten years, as it was 76.4 billion cubic meters in 2008, then it reached 74.5 billion cubic meters in 2009, 83.3 billion cubic meters in 2010, and 87.6 billion cubic meters in 2011.
It continued to rise to 94.4 billion cubic meters in 2012, 95 billion cubic meters in 2013, 97.3 billion cubic meters in 2014, 99.2 billion cubic meters in 2015, 105.3 billion cubic meters in 2016 and 109.3 billion cubic meters In 2017, finally, production increased by 2.6 percent in 2018, to 112.1 billion cubic meters.
Global production of natural gas increased during the year 2018 by 5.2 percent, equivalent to 190 billion cubic meters, as it was about 3.68 trillion cubic meters in 2017.
The largest ten natural gas producing countries in the world in 2018 accounted for about 70.3 percent of global production, with a total production of 2.71 trillion cubic meters.
Top the list of the United States of America with 831.8 billion cubic meters, with a share of 21.5 percent of global production in 2018, followed by Russia with a production of 669.5 billion cubic meters, constituting 17.3 percent of global production.
Third, Iran has 239.5 billion cubic meters, which represents 6.2 percent of global production, and fourthly, Canada, 184.7 billion cubic meters, representing 6.2 percent of global production.
Fifth is Qatar, with 175.5 billion cubic meters, making up 4.5 percent of global production, and sixth, China, with 161.5 billion cubic meters, representing 4.2 percent of global production.
Seventhly, Australia has 130.1 billion cubic meters, which represents 3.4 percent of world production, and then Norway, 120.6 billion cubic meters, represents 3.1 percent of global production.
In ninth place, Saudi Arabia, Algeria lived with 92.3 billion cubic meters, representing 2.4 percent of global production.
On February 20, the Higher Committee for Hydrocarbons held a meeting chaired by Prince Muhammad bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister, and reviewed the plans to develop the giant Jafurah field in the eastern region, which is the largest unconventional gas field discovered in the Kingdom with a length of 170 One kilometer and one hundred kilometers wide. The volume of gas resources in its reservoir is estimated at 200 trillion cubic feet of wet gas, which contains gas liquids in the petrochemical industries and high-value condensate.
The crown prince praised the efforts of the national company "Saudi Aramco" in developing the field, with an investment amounting to $ 110 billion (412 billion riyals). The stages of its development will lead to an increase in the field's production of gas gradually to reach if the development is completed to 2.2 trillion cubic feet in 2036, representing about 25 percent of current production. Because of the field’s characteristic, it will be able to produce about 130,000 barrels per day of ethane, representing about 40 percent of current production, and about 500,000 barrels per day of gas liquids, and condensate required for the petrochemical industries, representing about 34 percent of current production.
Prince Muhammad bin Salman directed that the priority of allocating the field's production of gas and its liquids to the local sectors in industry, electricity, water desalination, mining, and others should be in order to keep pace with the ambitious growth rates according to Vision 2030.
The crown prince indicated that the development of the field will achieve, during the 22 years of its development, a net income for the government of about 8.6 billion dollars annually, 32 billion riyals, and it provides the gross domestic product with an estimated 75 billion riyals annually and leads to direct and indirect job opportunities for citizens in those sectors and others.
It will make the Kingdom one of the most important gas producers in the world to be added to its position as the most important oil producer.
The development of the field, in addition to the Kingdom's programs in developing renewable energies, will achieve the best mix of energy consumption locally and support its record in protecting and sustaining the environment.
The Crown Prince affirmed the keenness of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, on the continuation of development efforts, economic diversification, exploitation of comparative advantages in the Kingdom, and the enhancement of its leading position in the global energy market.
* Economic Reports Unit