Kingdom’s Shura council to decide on public-private project this month – report
Saudi Arabia is planning to build a pipeline network across the country that will supply gas to both residences and commercial establishments, according to reports in the kingdom’s press.
The venture, which will be a public-private partnership, is based on a joint study by the Saudi Ministry of Energy, Industry and Mineral Resources, and the kingdom’s Electricity and Cogeneration Regulatory Authority, said reports in the Arabic Aleqtisadiah daily. It is expected to be placed before the country’s Shura council for approval later this month, the report added.
According to Zawya, the paper quoted Fahd Bin Jumma, deputy chairman of the Shura’s Economy and Energy Committee as saying that the body will vote on the project after the Eid Al-Fitr break in July before it is presented to the King. “This is an important project to develop the massive gas sector in the Kingdom,” he told the paper.
Bin Jumma said the project would be executed in stages, beginning with the large cities, and would also be a joint venture between the public and private sectors. “It will be extended to remote areas at a later stage and foreign contractors could be invited to participate,” he was quoted as saying.
Harbouring the sixth largest natural gas reserves in the world at nearly 8.5 trillion cubic metres, Saudi Arabia, with its 30 million people, is also the largest gas consumer among Arab countries.