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Aramco Forecasts Increased Global Energy Demand with Two Billion New Consumers

Aramco's Vision for the Future of Energy

Ashraf Ghazwani, Executive Vice President of Strategy and Corporate Development at Saudi Aramco, predicts a significant increase in global energy demand in the coming years. He anticipates that the global economy will double in size, driven by the addition of two billion new consumers. This growth will necessitate an expansion of the global energy infrastructure to meet these rising needs.

Aramco's Commitment to Sustainable Energy Solutions

Ghazwani emphasizes Aramco's commitment to providing energy while minimizing its environmental impact. He highlights that Aramco's oil boasts the lowest carbon intensity globally. The company has actively invested in sustainable energy solutions, including:

• Building over 17 joint-operated power plants to enhance energy efficiency and significantly reduce carbon emissions.
• Acquiring 15% of the hydrogen hubs on the Kingdom's east coast, enabling the production of low-carbon hydrogen for industries at competitive costs.

Aramco's Leadership in Blue Hydrogen and Carbon Capture

Aramco has established itself as a pioneer in blue hydrogen and carbon capture technologies:

• The company has already produced and shipped three blue hydrogen cargoes to Asia, marking a significant step in developing a robust blue ammonia value chain. These shipments enable the testing of blue hydrogen and ammonia production and demonstrate the potential of blue hydrogen in meeting the energy needs of Asian consumers while addressing carbon capture and storage concerns.
• Aramco is constructing the world's largest carbon capture and storage facility in Saudi Arabia, with a capacity of 9 million tons per year. This facility represents a crucial step in achieving net-zero emissions and reducing carbon footprint. It also positions Aramco as a key player in the global hydrogen market, particularly in catering to Asian customers.

Aramco's Strategic Initiatives for a Sustainable Future

Through its commitment to developing sustainable energy solutions and investing in blue hydrogen and carbon capture technologies, Aramco is paving the way for a future where energy demand is met responsibly and efficiently. The company's vision for a cleaner, more sustainable energy future aligns with global efforts to address climate change while ensuring a reliable energy supply for a growing world population.