Saudi Aramco Secures First Condensate Export Deals from $100 Billion Jafurah Project
Key Facts
- •Saudi Aramco has secured deals for several cargos of gas condensates from its $100 billion Jafurah shale gas facility.
- •Buyers include U.S. companies Chevron and Exxon, and the Indian Oil Corp.
- •The first cargo is scheduled to depart by the end of February 2026.
Saudi Aramco has finalized its first export agreements for gas condensates from the massive Jafurah shale gas field, marking a significant milestone in the project's development. The state energy giant secured deals for several cargos from the $100 billion facility with major global players, including U.S.-based Chevron and ExxonMobil, as well as the Indian Oil Corp (IOC). According to reports, the first shipment of these condensates is scheduled to depart by the end of February 2026. This development signals the operational readiness of Jafurah, which is central to Saudi Arabia's strategy to tap into unconventional gas reserves. By expanding its energy export portfolio beyond crude oil, Aramco aims to meet rising domestic demand and boost long-term revenue streams. The project is expected to play a pivotal role in the Kingdom's broader economic diversification efforts.
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