Saudi Arabia to be Self Sufficient in Gas by 2021

Saudi Arabia will remain self-sufficient in natural gas, with production and consumption rising to 131 billion cubic meters (bcm) by 2021 from an estimated 94.8 bcm in 2011, Business Monitor International said in report titled Saudi Arabia Oil and Gas Report Q4 2012.

Greater exploration of the Red Sea and prospects for tight gas production could bode well for gas reserves, although progress in the so-called Empty Quarter remains slow, the report added.

Sino Saudi Gas, a joint venture between China’s state-controlled Sinopec and Saudi Aramco, in August 2012 announced a delay in plans to drill for gas in the Empty Quarter. The delay was attributed to the need to further evaluate the ‘economic and technical aspects of the well’ according to an unnamed Sinopec executive quoted by Reuters.