Saudi Aramco has signed a deal with a subsidiary of Sinopec which will see the Chinese giant build pipelines for an expansion of Saudi Arabia's natural gas network.
A subsidiary of China ’s energy giant Sinopec has signed a $1.3-billion deal with Saudi Aramco to procure and build pipelines for an expansion of the Kingdom’s natural gas distribution network, the Chinese firm said on Thursday. Under the turn-key fixed-price contract worth $1.3 billion 5.
The Saudi oil giant has in recent years expressed its intention to boost its natural gas production and sales in the Kingdom, to deliver gas to more customers and replace part of the crude that is currently being burnt for power generation in Saudi Arabia. After scrapping oil capacity expansion plans earlier this year, the Saudi state oil giant Aramco is now poised to boost natural gas output by 60% by 2030, executives said earlier this year.
Saudi Arabia Energy Sinopec Pipeline Infrastructure
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