Ryad diversifies and invests in LNG

Ryad diversifies and invests in LNG

Editorial Staff
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An investment worth $13 billion will go to increasing natural gas production by 20%

Saudi Arabia is looking to increase its electric power generation from natural gas. After decades as the indesputed leader in oil output, Ryad is starting to diversify its energy sources, looking ti renewables as well as this increae in electric power generation from natural gas. This need for diversification was presented by the Saudi Oil Minister during the G20 summit in China. Specifically, Saudi Arabia is looking to increase by 20% its liquefied natural gas production, with a $13 billion investment. Many think this project could be become the biggest LNG plant in the world. Ryad, in fact, is looking to expand an already existing plant, to create a bigger production center. In addition, a second project is currently underway for a harbor along the coast dedicated to the shipment of oil with a special dedicated fleet.