Saudi Aramco plans to produce 200 million cubic feet per day (cfd) of unconventional natural gas by 2018 to supply a new phosphate project and a power plant, an industry source said. Saudi Arabia aims to develop shale gas for power generation in order to save more of its crude oil for export. Aramco is keen to increase gas output as it can fetch $100 per barrel by exporting crude oil versus around $4 if it sells it to a Saudi power plant. CEO Khalid Al-Falih said last year the company was ready to commit gas for the development of a 1,000 megawatt power plant which will feed a phosphate mining […]