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Saudi Arabia's $100 Billion Shale Gas Investment
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Saudi Arabia plans a $100 billion push into shale gas with the target of becoming the world's third-largest producer by 2030. The Jafurah field, the largest in the Middle East, holds 229 trillion cubic feet of reserves.
Saudi Aramco is leading the charge, investing heavily in Jafurah, with production slated to start in 2025. Techniques from the U.S. shale revolution—horizontal drilling and hydraulic fracturing—make this possible.
Domestic usage will shift from oil to gas and renewables. Plans include potential LNG exports. Saudi Arabia halts oil capacity expansion, redirecting $40 billion to gas.
Investments span the globe: U.S., Australia, and partnerships in LNG projects. The UAE follows suit, boosting LNG capacity.
Gas gains favor as the world decarbonizes. Oil demand could drop 70% by 2050, while gas sees only a 50% decline. Saudi Arabia and the UAE aim to secure energy diplomacy through gas.
Diversification into renewables and carbon capture technologies bolsters their strategy. A domestic gas supply ensures longevity for state-owned energy firms.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting with in-depth analysis. |
| Social Impact | 5 | Significantly influences public opinion on energy. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 6 | Inevitably leads to significant changes in energy production. |
| Practicality | 5 | Widely applied in practice, achieving good results. |
| Entertainment Value | 2 | Includes a few entertaining elements. |