Saudi Arabia eyes $100bn bet on shale gas revolution at home

Oil leader looks to maintain status as energy power amid shifting landscape

20240723N Saudi natural gas

State-owned Saudi Aramco is planning major investments in the Jafurah shale gas field, the largest in the Middle East. © Reuters

RYOSUKE HANAFUSA and SHUNTARO FUKUTOMI, Nikkei staff writers

HOUSTON, Texas/DUBAI -- Saudi Arabia, the world's largest crude oil exporter, plans to invest more than $100 billion to become the world's third-largest shale gas producer after the U.S. and Russia as its economy braces for a decarbonized society.

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