2007 News Story

Oil Minister addresses Euromoney Saudi Arabia Conference 2007

In an opening address to the Euromoney Saudi Arabia Conference 2007 in Riyadh today, Minister of Petroleum and Mineral Resources Ali Al-Naimi highlighted the progress achieved by Saudi Arabia’s natural gas industry.

In order to meet global demand, by 2012 the Kingdom plans to increase natural gas production by 40 percent, ethane production by 76 percent, and petrochemical production by 200 percent, Al-Naimi said. This ambitious goal requires expanding the natural gas network and refineries, he added.

The two-day conference is expected to attract 1,000 delegates on the ministerial level as well as senior officials from the economic, trade and communication sectors.

Euromoney is a leading conference organizer for cross-border investment and capital markets, portfolio and direct investors, financial intermediaries, corporations, governments, banks and financial institutions. This year’s conference was organized in cooperation with a number of Saudi government agencies.