Aramco CEO Amin Nasser said that the company is creating an "energy bridge" to China to meet its demand for oil and gas
Saudi Aramco is building an international gas business as it works to reduce its carbon footprint, CEO Amin Nasser said at an event on Tuesday.
Speaking at a summit in the Chinese capital of Beijing, Nasser said that the company is also converting more crude oil into chemicals to lessen its carbon emissions, which in the long-term can help combat a “crisis of perception” of the oil and gas industry.
“We need to help [people] realise that oil and gas will remain vital to world energy for decades to come,” he said. “We need to reassure them with our own long-term investments that the safety belt we have always provided is one they can continue to rely on.”
In November, Nasser added that Aramco’s gas strategy will need additional investments of $150 million over the next 10 years as it increases output and eventually becomes a gas exporter.
Nasser added that Aramco is creating an “energy bridge” between Saudi Arabia and China to satisfy growing demand for oil and gas.
“[The bridge to] China not only meets China’s growing needs for energy, but also the petrochemical products required for most industrial processes,” he said. “The truth strength of the bridge is fast moving capital flows, dynamic energy partnerships and strategic relationships build on mutual trust and shared vision.”