Saudi Natural Gas Production Soars, Turning Saudi Palaces into Lux Hotels, and Much More – The 966 E. 24

Listen to the full episode here:

1:16 – Richard’s one big thing is a recent item by Ali Shihabi for the Hoover Institution, The Saudi Succession And The Sociocultural-Religious Reforms Of Mohammed Bin Salman.

4:43 – Lucien’s one big thing is Saudi Arabia’s Public Investment Fund (PIF) has created a new hospitality company called The Boutique Group that will transform palaces into ultra-lux hotels.
The Boutique Group will convert iconic historic and cultural palaces into luxurious boutique hotels in Saudi Arabia, and then manage them.

8:11 – Natural gas production in Saudi Arabia is booming. The hosts discuss the how and the why of the Kingdom’s natural gas production boom.
Natural gas production is up 30% since 2010, according to the US Energy Information Agency.
What is significant about Saudi Arabia ramping up gas output is not only the increase itself, but the type of increase it is seeing, and why.
The EIA released a report on Saudi Arabia’s natural gas production, noting that it is standalone natural gas wells growing the industry, instead of associated natural gas production (natural gas produced as a by-product of oil production).

“Oil production cuts related to the December 2016 OPEC+ agreement have reduced Saudi Arabia’s associated natural gas production (natural gas produced as a by-product of oil production). However, the country’s total natural gas output has steadily grown over the past two decades because of the development of non-associated, or stand-alone, natural gas fields,” the EIA said.

Natural gas is also an important factor in the Kingdom’s hydrogen goals and in its overall energy mix. 

17:50 – Yallah! The hosts begin their segment covering six other storylines from the week to get you up to speed for the weekend.
•Per the AP, Thailand’s prime minister arrived in Saudi Arabia on Tuesday for the first high-level meeting since relations between the nations soured three decades ago over a sensational jewelry heist that led to a diplomatic row and string of mysterious killings.
•The Saudi General Authority for Statistics reported that non-oil exports in November 2021 totaled $6.9 billion, up from $5.5 billion in November 2020. An increase of 26.1%. Non-oil exports also increased 9% from October to November 2021.
•ESL Gaming and FACEIT merge, with the companies bought by Saudi-backed PIF for $1.5bn.
•Elm Co., a digital security firm owned by Saudi Arabia’s sovereign wealth fund, is seeking to raise as much $820 million from an IPO.
•Lebanon’s leading Sunni Muslim politician Saad al-Hariri said on Monday he would not run in a forthcoming parliamentary election and was suspending his role in political life, urging his political party to do the same….
•The Saudi cabinet just met for the first time in person since the covid era began, and it was chaired by King Salman.

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