The world's liquefied natural gas (LNG) market will become more competitive in the coming years. Saudi Arabia, one of the largest oil exporters in the world, is currently becoming an important LNG exporter, the largest LNG Qatar, Australia and U.S.
Saudi Aramco's US chief executive said yesterday that the company needs 150,000 million dollars in investments for the next 150 years, with the intention of making the company become an export and export destination. Additionally, the company promotes gas development plans to compensate domestic oil consumption to provide more oil for export, said Reuters. Saudi Arabia also intends to produce 10% of its power to diversify the energy mix for the next five to six years and to increase oil prices further for exports.
The King and OPEC, de facto leader, are developing 20 million renewable energies in 9.5 GW solar and wind projects in 2023 and building 17.6 GW of 2032 nuclear power.
Saudi Aramco's gas station now has a total of 23 million cubic meters per day from $ 14 million, and Amin Nasser CEO said in a Dubai-based chemical industry. "Our gas program … will attract more than $ 150 million in the next decade," he said. "We also have unusual gas resources around the world, quickly forming our usual large resources."
"We are looking to satisfy ourselves only in our utility reality, which is especially true of the increase in the export and renewal of natural gas and gas products." Related: Natural gas units Saudi Geopolitical Pivot
Nasser's comments have come a short time in Saudi Arabia and Russia, with an interest in LNG development, taking part in the massive Arctic LNG 2 LNG project in Saudi Arabia's giant energy giant Novatek. $ 20 million of Arctic LNG-2 plant starting in 2022 or 2023, Novatek will have a second liquefied gas gas, when Yamal LNG came late last year. The Russian company is also interested in building a Saudi Arabian regasification terminal, said Russian Minister Alexander Novak at the time. At that meeting, Saudi Arabia stated that gas production should double the gas in the next ten years.
Geopolitical energy sector
Additionally, the growing alliance between Saudi Arabian and Russian oil markets has changed markets, and the oil market has highlighted the prominence of the new coalition between two Saudi Arabian countries. Basically, the Sahrawi continued until last year 204 until 2016, they had to take on the world's leading oil producers, now they have had to go with Russia's support.
In the future, when energy and geopolitical alliances are emerging, LNG markets may also change. Meanwhile, Russian President Vladimir Putin has stated that it is intended to make Qatar a global LNG exporter. However, Qatar wanted to increase its liquefaction capacity of more than 77 million pesetas over 100 years in the next five years so that Putin's goal is to be successful. However, with the help of Saudi, Moscow and Riyad have still had a major impact on global LNG markets, which is why they increase geopolitical leverage in both countries, particularly in the Middle East.
The Saudi problem is, however, that the relationship with the richest Moscow-based Riyadh has costs to make it cost less. Russian relations are the smallest end of the Cold War. At that time, Saudi gas intentions, as well as Russia, had to boost oil markets around the world, should have a relationship with Riyadh Washington, especially the largest US military service provider. Middle East hegemony Iran's intentions have been examined, but the US military is supporting Saudi oil shipments in the Hormuz Strait and guarantees a large part of oil shipments worldwide.
Tim Daiss is directed to Oilprice.com
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