Saudi Aramco’s immediate focus will be on gas catch up

Significance

Aramco is doubling down on a strategy to become a major player in the global gas sector, with higher production at home and abroad, while boosting efforts to convert an ever-higher portion of its crude oil into petrochemicals

Impacts

• Aramco will look into adding Asian LNG assets to its US and Australian interests.
• The company will deepen rapidly its strategic energy partnership with China.
• The firm will seek international partners for export-oriented blue hydrogen projects.
• Aramco will explore petrochemicals investment opportunities in major growth markets besides China, notably India.
• Financial resources will become more constrained owing to lower oil prices and the government's corollary fiscal difficulties.