Saudi Aramco has mega projects worth nearly $90 billion currently under development, President and CEO Amin Nasser has said.

“We have an active capital programme,” he told Al Arabiya Business, adding that the natural gas operations are expected to grow by 60 percent by 2030 due to increasing demand.

Nasser said the Jafurah, the Kingdom’s largest non-associated gas development, is progressing as per schedule, with the first phase expected to be completed this year.

He stated that gas production from Jafurah is expected to reach two billion standard cubic feet per day by 2030.

Last week, Aramco signed a $11 billion lease and leaseback agreement for its Jafurah gas processing facilities with a consortium of global investors led by funds managed by Global Infrastructure Partners, a part of BlackRock.

Jafurah is central to Aramco’s goal of increasing gas production capacity by 60 percent between 2021 and 2030.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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