Saudi Arabia bet on shale gas revolution at home

[Harpy Eagle]

Saudi Arabia eyes $100bn bet on shale gas revolution at home

Oil leader looks to maintain status as energy power amid shifting landscape

asia.nikkei.com

Saudi Arabia, the world's largest crude oil exporter, plans to invest more than $100 billion to become the world's third-largest shale gas producer after the U.S. and Russia as its economy braces for a decarbonized society.

Crucial to Riyadh's plans is the Jafurah gas field in the country's east. It is the largest shale gas field in the Middle East with confirmed reserves of 229 trillion cubic feet, equivalent to about 70 years of Japan's liquid natural gas imports. Shale gas is natural gas extracted from shale rock formations.

Interesting that this is being done to ready itself for a "decarbonized society"...seems even they have seen the writing on the wall.

 

[westwall]

Saudi Arabia eyes $100bn bet on shale gas revolution at home

Oil leader looks to maintain status as energy power amid shifting landscape

asia.nikkei.com

Saudi Arabia, the world's largest crude oil exporter, plans to invest more than $100 billion to become the world's third-largest shale gas producer after the U.S. and Russia as its economy braces for a decarbonized society.

Crucial to Riyadh's plans is the Jafurah gas field in the country's east. It is the largest shale gas field in the Middle East with confirmed reserves of 229 trillion cubic feet, equivalent to about 70 years of Japan's liquid natural gas imports. Shale gas is natural gas extracted from shale rock formations.

Interesting that this is being done to ready itself for a "decarbonized society"...seems even they have seen the writing on the wall.

Ummmm, that's kinda the opposite of a decarbonized society. That's MORE carbonization to get more carbon products.

 

[1srelluc]

That's fine, once we get the leftist dems out of the way and we could give them a run for their money.

And who benefits from more competition?

The consumer, that's who.