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Al-Nassir: Aramco plans pipeline capacity increase
The CEO and Chief Executive Officer of Saudi Aramco, Amin bin Hassan Nasser, stated that the company is working to increase the capacity of the East-West pipeline to 10 million barrels per day as part of its efforts to counter the impact of the current crisis on energy markets. He mentioned that the crisis has led to a loss of about 3 billion barrels of supply to the market, and that the East-West pipeline was one of the factors preventing a further rise in oil prices. He pointed out that the company has a quick response capability and high flexibility in emergencies, and is studying ways to expand oil export routes. Additionally, he noted that Aramco aims to increase natural gas production by 80% between 2021 and 2030, and is working on establishing a third and fourth gas pipeline, while committed to the second phase of the Jafurah project, which is expected to be completed in 2027. Aramco is distinguished by advanced technology that generated a financial value of $11.3 billion over the past two years, with a fixed production cost of $3 per barrel thanks to its cutting-edge technology.
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