Aramco has begun talks with investors for the new Jufarah gas development project to fund the midstream and downstream projects there. The Jufarah gas project is an ambitious attempt by Saudi Arabia to diversify their energy exports. Aramco has reached out to large funds and private equity firms that would be able to offer stakes in projects such as carbon capture and storage. The company will use the gas produced in the Jufarah gas field to create blue hydrogen that will be exported as a clean energy source. The war in Ukraine has led to European countries looking to the Gulf for oil and gas supplies, causing the Gulf states to embark on ambitious projects to expand their oil and gas output, such as this one.
- Aramco ‘In Talks’ With Investors On $110bn Jafurah Gas Project