Aramco champions collaboration at Gastech 2024

The task of meeting growing gas energy demand, while simultaneously lowering carbon intensity, requires collaboration and innovation. This theme resonated throughout Gastech 2024, held in Houston recently.

The conference, now in its 52nd year, brought together stakeholders to exchange ideas and explore partnerships focused on innovating the gas energy landscape of today and tomorrow. An Aramco interactive booth at the event presented the company’s efforts around this topic for all to see.

Speaking during a plenary panel, Abdulkarim A. Al Ghamdi, Aramco’s executive vice president of Gas, highlighted the importance of partnership in driving energy innovation and underlined the pivotal role of natural gas and LNG in a multidimensional energy matrix. He emphasized the company’s efforts in the development of gas as an important source of energy and how it seeks to develop an integrated global gas portfolio.

Enhancing our gas capabilities

The company’s gas expansion efforts include notable investments in projects such as the Jafurah unconventional gas development, Tanajib and Fadhili Gas Plants, as well as Master Gas Systems No 3.

Aramco’s interactive exhibit booth featured more than 20 Aramco experts and Aramco Ventures partners, who presented on key technologies and projects. Aramco technology presentations included the Smart Loading Optimizer Engine or SLOpE model developed in-house by Aramco experts, as well as the CO₂ sequestration and storage initiative of Jubail CCUS Hub, the Golden H2 Plasma Unit effort, and the Aramco Metabrain AI project, among several advanced initiatives. More than 800 international exhibitors, 20 country pavilions, and approximately 50,000 attendees participated in this year’s conference.

Growing our LNG portfolio

Aramco is also pursuing partnerships in natural gas and LNG projects. The company aims to become a leading global LNG player and sees significant opportunities in this market, which is positioned for structural, long-term growth of lower-carbon energy.

Aramco’s recent partnerships include a long-term LNG offtake agreement with NextDecade from Train 4 at the Rio Grande LNG Facility, and a 20-year offtake agreement with Sempra for LNG from the Port Arthur LNG Phase 2 expansion project. These collaborations are designed to help ensure a reliable supply of LNG to meet global demand, while helping support the energy transition. In addition, Aramco has recently increased its stake in MidOcean Energy to 49% as well as holding an indirect 17.2% stake in Peru LNG.

Earlier this year, the company announced its first international investment in LNG with the indirect acquisition of a minority stake in three Australian LNG facilities through MidOcean Energy.

By expanding its presence in international LNG markets, Aramco aims to continue a successful journey of growth while meeting the growing demand for LNG as a global player.

Partnering for the future

During an afternoon plenary session, Mahdi F. Aladel, CEO of Aramco Ventures, commented on the role of innovation and partnership. He emphasized how Aramco Ventures is firmly focused on the future through strategic investments, innovative partnerships, and a commitment to cooperation.

Despite the complexities and challenges of today’s energy system, the overarching sentiment at Gastech was one of optimism. By drawing upon the industry’s history of innovation and collaboration, stakeholders across the energy value chain can continue to provide the energy that powers communities around the world, while continuing to develop lower-carbon solutions.