Familiar sources with the knowledge of the matter said on Tuesday that the state-owned energy giant Saudi Aramco 2222.SE is set to begin the export of the first condensate produced by the Jafurah gas plant in February.
The focus of the projects that Aramco plans to promote to become a key force in the world of natural gas and increase its capacity to produce more gas is the $100 billion Jafurah project that covers about $229 trillion standard cubic feet of raw gas and $75 billion barrels of condensate.
The Saudi finance ministry reported that its first stage began production at the beginning of this month. According to one of the anonymous sources, Aramco could export four to six cargoes of 500,000 barrels of condensate Jafurah each month.
It was reported that the condensate is going to be sold in a private negotiation. As per the third source, Aramco could supply samples to buyers before the end of the month.
Condensate is a non-gas liquid, which can be fractionated in splitters to form petrochemical feedstock naphtha and other refined products, or can be mixed with crude oil to be distilled in refineries.
A preliminary crude analysis reviewed by Reuters shows the API gravity of the condensate is 49.7 degrees and that it has approximately 0.17 percent sulphur.
The assay indicates that about 40 per cent of its produce is petrochemical feedstock naphtha, predominantly the heavy grade, with the rest of the output consisting of gasoil and kerosene.
Global Head of NGLs at Consultancy FGE, Armaan Ashraf, said that “The uncertainty now is how much would come out to the market in the next 6 to 12 months, and this appears to be a grade that would compete with heavier condensates and ultra-light crudes.”
The gas production in Jafurah will be utilized to provide domestic power, and the remaining crude will be used to export crude that is being utilized in power generation within the kingdom.
Aramco has stated that its unconventional gas programme will reach peak production and produce an equivalent quantity of electricity that will displace the 500,000 barrels per day of oil.
Ashraf added that Jafurah remains a gas project, so it must not be counted in Saudi Arabia’s OPEC output quota.
Data from analytics firm Kpler indicated that this year, Saudi Aramco has increased Khuff condensate exports in the eastern province of Saudi Arabia by 49,000 bpd up, compared to 18,000 bpd in 2024.
