Friday 22 Nov
Saudi Arabian shipping company El Bahari is set to expand its fleet with the construction of new natural gas carriers. This move aligns with the kingdom's growing focus on natural gas as a key energy source.
El Bahari CEO Ahmed Ali Al-Subaey
revealed plans to build between 20 and 30 new gas carriers through joint
ventures. While he didn't disclose specific partners, Al-Subaey stated that the
proposal will be presented to the company's board of directors for approval in
the coming year.
Speaking at a conference in
Dhahran, Al-Subaey emphasized the company's commitment to building a
significant capacity for natural gas shipping. The new vessels will be designed
to transport liquefied natural gas, hydrogen, and ammonia.
On Thursday, Saudi Aramco
acquired a minority strategic stake in MidOcean Energy for US$500 million.
Saudi Arabia is actively working
to increase its natural gas supplies through the development of the Jafurah
field, one of the world's largest unconventional gas reserves. The gas will be
used to meet domestic energy needs and is also expected to be exported in the
form of hydrogen or liquefied natural gas (LNG).
Al-Subaey highlighted that the
growing use of renewable energy within Saudi Arabia will contribute to making
more gas available for export.
El Bahari currently transports oil shipments, its fleet includes 39 supertankers and 36 chemical and petroleum product tankers, according to its website.
