Custodian of the Two Holy Mosques Chairs Cabinet's Session

Riyadh, February 25, 2020, SPA -- The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired the Cabinet's session held at Al-Yamamah Palace here today. At the outset of the session, the Custodian of the Two Holy Mosques briefed the Cabinet on the content of the message sent to Mswati III of the Kingdom of Eswatini and the results of his discussions with United States Secretary of State Mike Pompeo reviewing overall regional and international developments and positions and efforts of the two countries towards them. The Cabinet commended the keenness of the Custodian of the Two Holy Mosques on continuing development efforts, economic diversification, benefiting from the comparative advantages in the Kingdom, and enhancing its leading position in the global energy market. The Cabinet pointed in this context to the meeting of the Higher Committee for Hydrocarbons chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister citing plans to develop the Jafurah field in the Eastern Region which is the largest unconventional gas field discovered in the Kingdom with a length of 170 km, a width of 100 km. The stages of developing this field will lead to gradually increasing its production of gas to reach when developed completely 2.2 trillion cubic feet in 2036, representing about 25 percent of the current production. The field will be able to produce about 130,000 barrels per day of ethane, representing about 40 percent of the current production. It will also produce 500,000 barrels per day of gas liquids and condensate required for petrochemical industries, which represent about 34 percent of current production. The Minister of Media, Turki bin Abdullah Al-Shabanah, pointed out in a statement to the Saudi Press Agency after the session that the Cabinet appreciated the directive of HRH Crown Prince that the priority of allocating the production of the Jafurah field of gas and its liquids to the local sectors of industry, electricity, water desalination, mining, and others. This comes to keep pace with ambitious growth rates in accordance with the Kingdom's Vision 2030. The Cabinet also praised the great efforts of the Ministry of Energy and Saudi Aramco in the new energy strategy, their pioneering roles in exploration and production, and strengthening the Company's resources to support economic diversification in the Kingdom. The Cabinet also commended the positive results, when the development of the fields is completed, on the gross domestic product, providing job opportunities for citizens, achieving the best energy mix for local consumption, supporting the Kingdom's record in protecting and sustaining the environment, and making the Kingdom one of the most important gas producers in the world to be added to its role as the most important producer of oil. The Cabinet reviewed the final statement issued by the first meeting of the finance ministers and central bank governors' of the G20 countries, affirming the commitment to use all available policy tools to achieve strong and sustainable growth, implementing structural reforms to enhance potential for growth and reasserting the findings of the leaders of the G20 countries, at the Osaka Trade and Investment Summit, and its importance as the engine for productivity and innovation. Minister of Media stated that the Cabinet referred to the concern expressed by the Kingdom to the high-level disarmament conference held, in Geneva, about the risks that have threatened the security of the Arab countries, in the Gulf region, with the escalation of threats coming from the terrorist armed militias supported by the Iranian regime, as they are continuing their terrorist activities and targeting civilian areas, in the Kingdom of Saudi Arabia, under a day broad light of international silence, towards these hostile practices and support of such operations. The Cabinet stressed support for efforts aimed at disarmament and achieving stability, in the region, maintaining international peace and security, and that the Iranian regime’s announcement to reduce commitment to the 2015 nuclear agreement, and working on specific areas and activities in the nuclear program that will reduce the duration of Iran's possession of nuclear weapons, are clear evidence that its program is never peaceful. It also touched on the joint project launched by the United Nations, with the aim of tackling terrorism, organized crime and the illicit trade, in small and light weapons, in the Central Asian region, with funding from Saudi Arabia and the Russian Federation, which will be implemented in 2020-2021, stressing the Kingdom's call to take with many measures and procedures from various actors, in order to establish preventive mechanisms and a successful response, and the possibility of implementing this project in other parts of the world. On the opening of the 43rd session of the Human Rights Council, in Geneva, the Cabinet highlighted the Kingdom's efforts exerted, in the areas of human rights, developments and pioneering steps witnessed, and the stance it expressed regarding the rights of the Palestinian people and their right to self-determination, condemning violations against the Rohingya minority, reaffirming the legitimate support of the Yemeni government and supporting its people, in confronting the Houthi militia. The Kingdom is at the forefront of donor countries, in providing humanitarian and development assistance, in a manner that guarantees security, stability and welfare for the human being, the Cabinet stressed. On the other hand, the Cabinet reviewed, also, a wide range of issues, events and related developments, notably, on the regional and international arenas. --SPA