الرميان: «أرامكو» تهدف لزيادة طاقة إنتاج غاز البيع بأكثر من 60%

The Governor of the Public Investment Fund and Chairman of the Board of Saudi Aramco, Yasser Al-Rumayyan, confirmed that the company succeeded in achieving its short-term goals in 2024 and continues to implement its investments to achieve long-term objectives.

In his speech during the annual sustainability report of Aramco for the year 2024, titled "Investing in Growth and Innovation for Sustainability," released today (Sunday), he stated that "Aramco" has continued its commitment to reliably serve its customers, as it has done for over 90 years.

Al-Rumayyan explained that the company focused its efforts on applying energy solutions with lower carbon emissions, a challenge that requires the use of the latest technologies, stimulating creativity at the company level, and injecting significant investments, noting that the energy transition will not happen overnight, but is a multi-stage process.

He pointed out that Saudi Aramco takes pride in taking the difficult path and achieving its goals despite challenges, indicating that climate change represents one of the greatest current challenges, and therefore the company continues to play its role in improving the future of energy as it has done in the past.

He mentioned that Aramco, in support of the Kingdom's efforts towards low-carbon emission solutions, has begun to increasingly replace oil with gas in power generation.

Al-Rumayyan stated that the company aims to increase the production capacity of sales gas by more than 60% by 2030 compared to 2021 levels, noting that achieving this goal is subject to local demand and includes projects that have not yet been announced.

He affirmed that the concept of sustainability at Aramco includes ethical principles, safety, employee development, and giving back to the community. He pointed to the progress made in this area, especially in localization efforts, explaining that the "Ikhtiyar" program has raised the percentage of local spending in the supply chain to 67.0%, compared to 35.0% a decade ago.

He highlighted that one of the pillars of the energy transition is reducing emissions from existing energy sources, due to their reliability and reasonable cost.

He said: "Aramco continues to seek ways to reduce gas flaring and lower methane emissions, alongside improving energy consumption efficiency across all its operations."

He noted that the company, as a founding member of the Oil and Gas Climate Initiative, has exceeded the set targets and continues to strive to reduce methane emissions intensity. He mentioned that one of the company's notable achievements in this area is its use of a new network of satellites to monitor emissions at its facilities, which enhances the achievement of environmental goals and helps identify areas that need improvement.

He indicated that initiatives such as carbon capture and storage contribute to building a circular carbon economy, as well as enabling the development of the company's blue hydrogen programs, and support efforts to reduce emissions resulting from Aramco's operations.

He pointed out that 2024 witnessed progress in Aramco's negotiations regarding purchase agreements in key markets such as East Asia and Europe, as part of its plans to produce alternative fuels in the long term.

Al-Rumayyan discussed the role of new and renewable energy sources in the transition journey, noting that the geography and climate of the Kingdom allow for electricity production from solar and wind energy.

He added that Aramco's investments in these sources contribute to achieving environmental ambitions and enhancing the company's long-term value amid transformations in the energy sector.

He clarified that Aramco recently signed agreements with partners to establish three new photovoltaic solar energy projects, expressing hope that they will contribute to supporting the national electricity grid.

He emphasized the importance of the role of startups in this transition, noting that Aramco recognizes the value these companies add to the sector.

He pointed out that "Aramco Ventures" was ranked among the best companies investing in climate activities, and the second-best company globally in the climate top 50 list.

He added that Aramco recognizes the importance of artificial intelligence in the energy sector, especially in sustainability areas, which is why it is working to integrate AI technologies into its operations to enhance business efficiency, leverage data, and reduce emissions.

It is worth mentioning that the report reviews Aramco's approach to integrating sustainability into its strategy and operations, the company's efforts to provide lower carbon emission solutions, including reducing methane emissions, leading in supporting partnerships and sustainability initiatives, as well as using AI applications in its operations, in addition to the effective role the company plays in maximizing community value in all its areas of operation.