Saudi Arabia’s Aramco signs 13 Billion Dollar deal for new domestic gas project

Saudi Aramco says the Fadhili project will increase the kingdom's natural gas production to 17 billion standard cubic feet per day by 2020.

State-owned Saudi Aramco says it has signed a deal for a new gas project that will be worth more than 50 billion Saudi riyals (USD 13.3 billion) when complete in 2019 aimed at meeting the kingdom’s growing domestic demand for energy.

The company on Thursday, said the project will help lessen dependence on oil for power generation and accommodate 4,500 training, temporary and permanent jobs for Saudis.

The Fadhili project will process gas from onshore and offshore fields.

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Saudi Aramco says the Fadhili project will increase the kingdom’s natural gas production to 17 billion standard cubic feet per day by 2020, in line with the country’s National Transformation Plan.

The company says the deal was signed on Thursday, with India’s Larsen & Toubro, Saudi KAD, Saudi Electricity Company and France’s Engie.

ARAMCO, Saudi Arabia, Saudia Arabia gas project, 50 billion gas project in Saudi Arabia, Saudi arabia demand for energy, Saudi Arabia gas project, India buisness, Larsen & Toubro, Saudi KAD, Saudi Electricity Company, world news, International news, latest news

First uploaded on: 21-07-2016 at 02:05 IST

How Gukesh was welcomed at 3 am after Candidates: 80 school kids and an emotional mother

SportsUpdated: April 25, 2024 09:24 IST

17-year-old D Gukesh, winner of the Candidates chess tournament, received a grand welcome at Chennai airport with a guard of honour from 80 students. Accompanied by his father and coach, he was greeted by officials from AICF and SDAT. His mother, relieved at his return, shared how he rediscovered himself through tennis and socializing.

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