Shell Will Stop Investing in Gas Project in Saudi Arabia
Posted: 07/14/2014 02:07:25 Edited: 07/14/2014 02:07:25 Clicks: 805
It is reported that Shell will stop investing in gas project in Saudi Arabia, which will cause the developing gas resources in Saudi Arabia the largest global oil exporter more complex.
To meet the highly increasing demands for gas, Saudi Arabia treats developing gas project as its priority. However, the development of shale gas provides more profitable opportunities to energy corporations.
An e-mail published by Shell showed,” Shell has already decided to stop investing for developing Kidan program.” However, Shell did not explain the reason that lay up joint development project in Kidan, Empty Quarter. Last year, industry sources had already disclosed that Shell may stop investing because of the divergences on contract terms with Saudi government.
Currently, at least three foreign corporations such as Eni in Italia, Repsol in Spain and Total in France have already given up seeking gas resources which have commercial exploitation value in Kidan, Saudi Arabia.
To meet the highly increasing demands for gas, Saudi Arabia treats developing gas project as its priority. However, the development of shale gas provides more profitable opportunities to energy corporations.
An e-mail published by Shell showed,” Shell has already decided to stop investing for developing Kidan program.” However, Shell did not explain the reason that lay up joint development project in Kidan, Empty Quarter. Last year, industry sources had already disclosed that Shell may stop investing because of the divergences on contract terms with Saudi government.
Currently, at least three foreign corporations such as Eni in Italia, Repsol in Spain and Total in France have already given up seeking gas resources which have commercial exploitation value in Kidan, Saudi Arabia.
