Image Credit: Reuters
Dubai: Saudi Arabia begins operations at the Hawiyah Gas Storage facility, its inaugural project dedicated to storing natural gas through the injection of processed fuel.
Developed by Aramco, the facility is capable of reinjecting up to 2 billion standard cubic feet of natural gas daily into the country’s Master Gas System, which is a vast network of pipelines linking major production and processing sites to customers across the nation.
This project, announced by the ministry of energy on X, formerly known as Twitter, aims to meet the increasing energy demand, especially during peak periods. It plays a vital role in managing seasonal demand fluctuations, supporting the Liquid Fuel Displacement Programme, and lowering carbon emissions, according to a report by Saudi financial news portal Argaam.com.
As part of Saudi Vision 2030, the initiative targets the displacement of 1 million barrels per day of liquid fuel in the utilities, industrial, and agricultural sectors by the end of the decade.
Saudi Arabia plans to achieve this by prioritising renewable energy and natural gas, aiming for 50 per cent of its electricity generation to come from renewable sources.
Saudi Aramco, the world’s largest oil producer, is positioning itself as a key player in the liquefied natural gas (LNG) market. Last year, the company made its first international move into LNG by acquiring a minority stake in MidOcean Energy from EIG Global Energy Partners for $500 million (Dh1.8 billion).
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