(MENAFN) Saudi Aramco announced its plan to produce 200 million cubic feet per day (cfd) of unconventional natural gas by 2018, Arabian Business reported
An industry source said that the firm's move is to supply a new phosphate project and a power plant
The company is keen on increasing its gas output as it can export crude oil at USD100 per barrel versus USD4 if sold to a Saudi power plant
The industry source said: "40 million cfd will go to the phosphate project of Waad al Shamal while 160 million cfd will go to Saudi Electricity Co for a power plant.
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