Saudi Arabia, as one of the largest oil producers in the world, has an extensive plan to increase its crude oil export capacity. According to the country's Minister of Energy, Prince Abdulaziz bin Salman, Saudi Arabia aims to reach a crude oil export capacity of 10 million barrels per day. This plan includes the reconstruction of an internal gas pipeline and investment in the existing east-west network.
Details of Export Capacity Increase
Prince Abdulaziz bin Salman announced at the Global Oil Conference in Riyadh that the country could add up to 1.2 million barrels per day to its export capacity within 7 to 8 weeks. This capacity increase will be possible by temporarily converting a gas pipeline into an oil pipeline. This plan allows Saudi Arabia to optimize its existing capacities.
Read more: Hamid Bord Takes Over the Acting Responsibility of the Iranian Ministry of Oil
Future Investments and Implications
The Saudi Energy Minister also noted that with further investments, the country could add up to 3 million barrels per day to its export capacity. He informed Saudi Aramco that it could use this pipeline for oil transport until May, after which it would need cleaning and return to gas service. Additionally, upgrading pumping stations in the east-west pipeline and other infrastructure projects could help Saudi Arabia increase its capacity to divert shipments from the main maritime routes of the Persian Gulf and the Red Sea to about 10 million barrels per day over the next two to three years.
Read more: Global LNG Transport Index Increases by 1.68% · Major Expansion of Natural Gas Pipeline in Nevada by Great Basin
