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Saudi Arabian oil giant Aramco is receiving pitches from Sinopec Corp and TotalEnergies for a slice of the Jafurah shale gas development project worth about $10 billion. With reserves estimated at 200 trillion cubic feet of raw gas and the expectation to produce 2 billion cubic feet of gas per day by 2030, it is the largest shale gas development outside the U.S. The project was initially aimed at satisfying domestic demand, but amid growing competition in shale oil production from the U.S., Aramco has signaled that Jafurah might become a gas export hub.

TotalEnergies, Sinopec pitched for role in Saudi gas project

Saudi Arabian oil giant Aramco is receiving pitches from Sinopec Corp and TotalEnergies for a slice of the Jafurah shale gas development project worth about $10 billion. With reserves estimated at 200 trillion cubic feet of raw gas and the expectation to produce 2 billion cubic feet of gas per day by 2030, it is the largest shale gas development outside the U.S. The project was initially aimed at satisfying domestic demand, but amid growing competition in shale oil production from the U.S., Aramco has signaled that Jafurah might become a gas export hub.

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