Natural Gas Solutions
Embracing gas in the energy transition
As climate change challenge continues to influence energy policy, gas has become a more prominent player in the energy mix.
Climate change is propelling demand for natural gas, which is a lower carbon intensity fossil fuel and an important lower carbon bridge toward a more sustainable energy future.
Gas currently answers the threefold need for energy security, economic development, and climate protection, and Aramco plans to further expand its gas business.
As of December 31, 2021, Aramco’s estimated natural gas reserves, under its Concession area, was 194.5 trillion scf, and during 2021 the company produced 9.2 billion scfd of natural gas.
Gas answers the need
Gas currently answers the threefold need for energy security, economic development, and climate protection, and Aramco plans to further expand its gas business.
Late in 2021, Aramco announced development of the Kingdom’s largest nonassociated gas field, Jafurah.
Commercializing the estimated 200 trillion scf of unconventional gas in place in the vast Jafurah basin is expected to contribute to Saudi Arabia’s goal to produce half of its electricity from gas, and half from renewables — and make the Kingdom one of the world’s largest gas producers.
Aramco’s lower carbon strategy
Aramco recognizes both the scale and urgency of the climate challenge, and its responsibility to help address it.
The company’s 2021 Annual Report, released in March 2022, contains a refreshed strategy of four themes: upstream preeminence; downstream integration; low carbon, and localization and promotion of national champions.
The low carbon strategy sets out to lower the company’s scopes 1 and 2 net carbon emissions over time, and to develop low carbon products and solutions.
At last year’s Saudi Green Initiative forum in Riyadh, Aramco president and CEO Amin Nasser expanded the company’s climate ambition to achieve net zero Scope 1 and Scope 2 greenhouse gas emissions across wholly owned operated assets by 2050.
“As the largest provider of energy to the world, Aramco’s ambition to reach net zero greenhouse gas emissions across our operations in less than three decades is a historic step forward that will help tackle the most pressing challenge facing humanity,” said Nasser.