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Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef has unveiled the first-ever natural gas storage project in Al-Hawiyah, Unaizah. With a storage capacity of 2 billion cubic feet, this project is a flagship initiative under the National Industrial Development and Logistics Program (NIDLP), a cornerstone of Saudi Vision 2030. Key to this vision is Saudi Arabia’s strategic intent to leverage its geographical advantage and natural resources to foster an economy open to foreign investment and ripe for competitive growth.
The world s leading oil producer, with over 15% of the world s proven reserves, the Saudi kingdom remains highly dependent on hydrocarbons for its domestic energy consumption and exports.