The Saudi energy sector is witnessing intense talks about a $10 billion shale gas project, and these talks are taking place between the Saudi oil company Aramco, the Chinese company Sinopec Refining and the French oil company Total Energies, according to sources for Bloomberg and Reuters.
Two informed sources told Reuters on Tuesday that Sinopec and Total Energies are in separate discussions to invest in developing the Al-Jafurah project in Saudi Arabia, noting that the talks are preliminary after the official expression of interest in the project in early 2022.
One of the sources added that while last year's proposals focused on developing exploration and extraction operations, Aramco is now seeking international help to develop the downstream side, although the talks so far do not include the construction of LNG export terminals.
