How will “Al-Jafurah” put Saudi Arabia at the head of the...

Economists confirmed to “Okaz” that the Jafurah field will make Saudi Arabia a major and effective member of the major gas-producing countries, suggesting that the gas-producing countries will work to form a bloc similar to the group of oil exporting countries (OPEC). With the aim of setting gas marketing policies and preventing monopolistic practices in global markets, in addition to coordinating jointly with the main gas-producing countries; To avoid negative repercussions on the global economy.Domestic demand and attractive industries

Former Shura Council member Saleh Al-Afaleq explained that the Al-Jafoura field will raise the Kingdom’s production capacity to exceed the local demand, pointing out that the Al-Jafoura field is one of the largest fields in the world, as it contains large quantities of natural gas, indicating that the Kingdom is working to expand the petrochemical industry, What makes the expansion process in this industry possible due to the presence of the necessary feedstock for further expansion.

He said, “The Kingdom’s production of large quantities of gas will make it attractive to new industries, and many investors are looking for near energy sources for highly efficient production; This contributes to the localization of many new industries and the creation of many jobs.”

Income diversification strategy

The economic expert, Dr. Nasser Al-Qarawi, said: “The Al-Jafoura field is a quantum leap in the field of energy, and the Kingdom will occupy a position among the major countries in the production of gas (Qatar, Russia, America, the Kingdom). Therefore, the Jafurah field is part of the Kingdom’s strategy to diversify sources of income, by moving to make the field independent and not associated with oil production. The Kingdom will be present during the years 2023-2024 in the global gas market, and the Kingdom’s production with Qatar will reach about 30% of the gas globally; This confirms that the Jafurah field is of great strategic importance to the Kingdom.”

List of the most productive countries

The former professor of finance and economics at King Fahd University of Petroleum and Minerals, Dr. Hassan Al-Abandi, said that the Al-Jafoura field places the Kingdom among the list of the three most productive countries of natural gas by the end of 2030, noting that the Al-Jafurah field is a great discovery of great importance; Due to the annual increase in demand for natural gas, as well as the continuous rise in gas prices in the global markets, and the Jafurah field contains large quantities of ethylene gas, which is used in the production of many plastic industries inputs.

He noted that the gas reserves in the Jafurah field amount to 200 trillion cubic feet, which increases the Kingdom’s position and capacity in the field of petrochemical industries, noting that the Jafurah field will enter the Kingdom within the club of gas production at the global level.

Stimulating industry and energy sources

The energy expert, Engineer Abdulaziz Al-Moqbel, explained that the Kingdom is moving to make renewable energy and gas the main source of power generation, in addition to stimulating the Saudi industry linked to providing continuous and sustainable energy resources to harmonize long-term strategic plans, stating that the Kingdom is working to support the entire value chain, by starting In strong and sustainable projects for the long strategic plans, pointing out that the use of gas is not limited to petrochemical feedstock, but rather includes the generation of electric power, especially in light of the significant expansion of Vision 2030 projects and the continuous need to generate electric power.

var securepubads = document.createElement('script'); securepubads.async = true; securepubads.type="text/javascript"; securepubads.src="";

var script_lotame = document.createElement('script'); var content_lotame = document.createTextNode("!function(){var lotameClientId='15787';var lotameTagInput = {data: {},config: {clientId: Number(lotameClientId)}};/* Lotame initialization */var lotameConfig = lotameTagInput.config || {};var namespace = window['lotame_' + lotameConfig.clientId] = {};namespace.config = lotameConfig; = || {};namespace.cmd = namespace.cmd || [];}();"); script_lotame.appendChild(content_lotame);

var lt_tags = document.createElement('script'); lt_tags.async = true; lt_tags.src="";

var script_facebook = document.createElement('script'); script_facebook.async = true; script_facebook.crossorigin = 'anonymous'; script_facebook.src="";

// var script_Alexa = document.createElement('script'); // var contentAlexa = document.createTextNode("_atrk_opts = { atrk_acct:"CgLHh1aIE700M2", domain:"",dynamic: true};(function() { var as = document.createElement('script'); as.type="text/javascript"; as.async = true; as.src = ""; var s = document.getElementsByTagName('script')[0];s.parentNode.insertBefore(as, s); })(); "); // script_Alexa.appendChild(contentAlexa);

// var noscript_Alexa = document.createElement('noscript'); // var noscript_img_alexa = document.createElement('img'); // noscript_img_alexa.setAttribute("height", "1"); // noscript_img_alexa.setAttribute("width", "1"); // noscript_img_alexa.setAttribute("style", "display:none"); // noscript_img_alexa.src=""; // noscript_Alexa.appendChild(noscript_img_alexa);

// stopped by layout team because maybe it's not used // var script_Twitter = document.createElement('script'); // var contentTwitter = document.createTextNode("!function(e,t,n,s,u,a){e.twq||(s=e.twq=function(){s.exe?s.exe.apply(s,arguments):s.queue.push(arguments);},s.version='1.1',s.queue=[],u=t.createElement(n),u.async=!0,u.src="",a=t.getElementsByTagName(n)[0],a.parentNode.insertBefore(u,a))}(window,document,'script');twq('init','o0b7a');twq('track','PageView');"); // script_Twitter.appendChild(contentTwitter);

var adsbygoogle = document.createElement('script'); adsbygoogle.async = true; adsbygoogle.src="";

var teadsScripts = document.createElement('script'); teadsScripts.async = true; teadsScripts.class = "teads"; teadsScripts.src="";

var effectivemeasure = document.createElement('script'); var contenteffectivemeasure= document.createTextNode("(function(){var em = document.createElement('script');em.type="text/javascript";em.async = true;em.src = ('https:' == document.location.protocol ? 'https://me-ssl' : 'http://me-cdn') + '';var s = document.getElementsByTagName('script')[0];s.parentNode.insertBefore(em, s);})();"); effectivemeasure.appendChild(contenteffectivemeasure);

var noscript_effectivemeasure = document.createElement('noscript'); var noscript_img_effectivemeasure = document.createElement('img'); noscript_img_effectivemeasure.setAttribute("alt", "Okaz Effective Measure"); noscript_img_effectivemeasure.setAttribute("style", "position:absolute; left:-5px;"); noscript_img_effectivemeasure.src=""; noscript_effectivemeasure.appendChild(noscript_img_effectivemeasure);

var script_addthis = document.createElement('script'); script_addthis.setAttribute("type", "text/javascript"); script_addthis.setAttribute("defer", "defer"); script_addthis.setAttribute("rel", "preconnect"); script_addthis.src = "//";



var vibecdn = document.createElement('script'); vibecdn.async = true; = "_forkIAVScript"; vibecdn.src="";

var adinsight = document.createElement('script'); adinsight.async = true; adinsight.src="";

setTimeout( function(){ document.getElementsByTagName('HEAD').item(0).appendChild(securepubads); document.getElementsByTagName('BODY').item(0).prepend document.getElementsByTagName('HEAD').item(0).appendChild(script_lotame); document.getElementsByTagName('HEAD').item(0).appendChild(lt_tags); // document.getElementsByTagName('BODY').item(0).prepend(script_Alexa); // document.getElementsByTagName('BODY').item(0).prepend(noscript_Alexa); document.getElementsByTagName('BODY').item(0).prepend(effectivemeasure); document.getElementsByTagName('BODY').item(0).prepend(noscript_effectivemeasure);




},3000 );

var initiate = 1; function initialize(){ if(initiate==1){ initiate = 0;

document.getElementsByTagName('BODY').item(0).prepend(script_facebook); // stopped by layout team because maybe it's not used // document.getElementsByTagName('BODY').item(0).prepend(script_Twitter);

if($("#lightgallery").length){ $('head').append(' '); var lightgallery = document.createElement('script'); lightgallery.async = false; lightgallery.type="text/javascript"; lightgallery.src=""; document.getElementsByTagName('HEAD').item(0).appendChild(lightgallery);

setTimeout( function(){ lightGalleryLoad(); },2000 );

function lightGalleryLoad() { $('#lightgallery').lightGallery({ selector: '.itemLightGallery' }); } }


} }

document.addEventListener("mousemove", initialize); document.addEventListener("scroll", initialize); document.addEventListener("touchstart", initialize);

These were the details of the news How will “Al-Jafurah” put Saudi Arabia at the head of the... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi Hajj minister meets Malaysian PM

Author Information

I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]