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2018-12-17 10:40:00

KING SALMAN ENERGY PARK: $6 BLN

KING SALMAN ENERGY PARK: $6 BLN

MEOG  - King Salman Energy Park (SPARK), a 50sqkm "energy city megaproject" in Saudi Arabia, is one of the Kingdom's most impressive endeavours into localisation so far. Once operational, it is expected to generate 100,000 direct and indirect jobs and should contribute $6bn to Saudi Arabia's GDP annually.

The first phase of development is slated for completion by 2021, and will require an investment of around $1.6bn. One of the project's initial partners is Baker Hughes, a GE company, which will build an oilfield services facility in SPARK.

The park essentially centralises localisation, and aims to build up the country's energy infrastructure and supply chain. Saudi Aramco is key, and the company's CEO Amin Nasser noted in a press release announcing the groundbreaking of the project that "Saudi Aramco continue[s] to be at the heart of the global oil and gas industry."

Nasser also said that with SPARK's anchor partners,"we are building a world-class energy hub that will accelerate solutions across the value-chain for generations."

Indeed, the energy titan is a key motivation for suppliers to manufacture their products in Saudi Arabia--if suppliers want to do business with Aramco, they must abide by the In-Kingdom Total Value Add (IKTVA) localisation program.

"SPARK is one of the country's most ambitious projects, affirming the Kingdom's commitment to Vision 2030 by creating thousands of high-skilled jobs, serving as an economic catalyst and advancing Saudi Arabia's strong position in the global energy sector," said Khalid Al-Falih, Saudi Arabia's minister of energy, industry and mineral resources. "The energy park's unique value proposition makes it an ideal destination for companies looking to invest in the thriving Saudi Arabian energy services market."

 

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Earlier:

W.Asia
2018, December, 14, 09:20:00

RUSSIA - SAUDI ARABIA COOPERATION

IEA - Cooperation between Russia and Saudi Arabia is now the basis of production management with these two countries having a large capacity to swing output one way or the other. For them, prices falling further would place their budgets under great stress.

 
 W.Asia
2018, November, 28, 12:10:00

SAUDI ARAMCO INVESTMENT $150 BLN

REUTERS - Saudi Aramco’s gas expansion strategy needs $150 billion worth of investments over the next decade as the company plans to increase output and become an exporter, its chief executive said on Tuesday.

 

 

 W.Asia
2018, November, 19, 11:05:00

SAUDIS, PAKISTAN INVESTMENT: $6 BLN

ARAB NEWS - Saudi Arabia has shown investment interest in Pakistan’s largest coastal refinery, a multibillion-dollar project being set up at Khalifa Point, near Hub, Balochistan, officials have confirmed.

 

 W.Asia
2018, November, 14, 11:30:00

ADNOC & SAUDI ARAMCO COOPERATION

ADNOC - The Abu Dhabi National Oil Company (ADNOC) signed a framework agreement with Saudi Aramco (Aramco), to explore potential opportunities for collaboration in the natural gas and Liquefied Natural Gas (LNG) sectors.

 

 W.Asia
2018, October, 24, 11:15:00

SAUDIS - PAKISTAN SUPPORT: $6 BLN

REUTERS - Saudi Arabia has agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help stave off a current account crisis, Pakistan’s government said on Tuesday.

 

 W.Asia
2018, October, 10, 07:45:00

SAUDI ARAMCO IPO $2 TLN

BLOOMBERG - Saudi Arabia’s crown prince insisted the stalled plan to sell shares in oil giant Aramco will go ahead, promising an initial public offering by 2021 and sticking to his ambitious view the state-run company is worth $2 trillion or more.

 

 W.Asia
2018, October, 8, 10:25:00

SAUDIS FUND: $600 BLN

REUTERS - Saudi Arabia’s Crown Prince Mohammed bin Salman said the kingdom’s main sovereign wealth fund (PIF) will surpass its target of increasing its assets to $600 billion by 2020, as part of a plan to reduce the economy’s dependence on oil.

  

Tags: SAUDI, ARABIA, ENERGY, INVESTMENT

Chronicle:

KING SALMAN ENERGY PARK: $6 BLN
2019, February, 15, 12:20:00

GREEN ENERGY CONGRESS JUNE 2019

GREENENERGY - We take an immense pleasure to extend our warm welcome to invite all the participants from all over the world to attend 7th World Congress and Expo on Green Energy during June 24-25, 2019 Barcelona, Spain

KING SALMAN ENERGY PARK: $6 BLN
2019, February, 15, 12:15:00

СЕВЕРНЫЙ ПОТОК 2 БУДЕТ РЕАЛИЗОВАН

МИНЭНЕРГО РОССИИ - «Мы считаем, что проект газопровода – коммерческий, и в нем заинтересованы европейские компании. Из-за того, что потребление газа в Европе будет расти, а собственная добыча – падать, Европа будет нуждаться в дополнительных объемах импорта. Наша конкурентоспособность подтверждена годами. Уверен, что проект будет реализован, он станет одним из основных инфраструктурных проектов на десятилетия вперед»,

KING SALMAN ENERGY PARK: $6 BLN
2019, February, 15, 12:10:00

СЕВЕРНЫЙ ПОТОК 2 ВОВРЕМЯ

ГАЗПРОМ - Отдельное внимание на встрече было уделено ходу реализации проекта «Северный поток — 2». Отмечено, что укладка газопровода в Балтийском море идет по графику.

KING SALMAN ENERGY PARK: $6 BLN
2019, February, 15, 12:05:00

NORD STREAM 2 DEAL

REUTERS - Russia's planned Nord Stream 2 gas pipeline direct to Germany is set to face EU market rules after negotiators agreed informally to change the EU's gas directive to apply to offshore gas links, the European Commission said late Tuesday.

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