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Saudi Arabia energy report

Saudi Arabia energy report
4 files (PDF report, 3 Excel files)
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This analysis includes a comprehensive Saudi Arabia energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.


  • As part of its plan to reduce its dependence on oil, Saudi Arabia is opening the energy sector to private investment.
  • The Saudi Green Initiative has set a target of 50% of renewables in the power mix in 2030.
  • Saudi Aramco is the largest crude oil producer worldwide, with a production of 11.5 mb/d in 2022.
  • SEC controls most of the power generation, transmission, and distribution.
  • Oil production increased by 14% in 2022 after a 4%/year reduction over 2018-2021.
  • Despite large natural gas resources and growing production, the country does not export gas.
  • Energy price reforms conducted since 2014 led to subsidy cuts and significant increases in energy prices.
  • Diesel prices are still among the lowest in the world.
  • The country's energy consumption increased in 2022 after remaining stable since 2015.
  • Saudi Aramco will invest over US$100bn to develop unconventional gas production.
oil exporter in the world
to develop the Jafurahunconventional gas field
of renewables in power production by 2030
  • Institutions & Energy Policy

    The Ministry of Energy oversees the energy sector and all energy policies.

  • Energy Companies


    SEC, Saudi Electric Company (75.1% public, 6.9% Saudi Aramco) was created in 2000 through the merger of the existing regional electricity companies ("SCECOS") with the national electricity production, transport, and distribution company.

  • Energy Supply


    The marketed gas production has been growing slowly since 2018 (1.5%/year), after rapid growth between 2000 and 2017 (5.6%/year), and reached 103 bcm in 2022. The production is exclusively consumed domestically. Although the production of non-associated gas has increased over the last 5 years, it only represents 20% of total production.

  • Energy Prices


    Natural gas prices are regulated as well. They were stable from 1998 at around US$0.26/kWh before a 65% increase in 2016 to US$0.43/kWh, which is still extremely low. Prices have remained stable since then.

  • Energy Consumption

    Consumption per capita is very high, reaching 6.5 toe in 2022, including about 9.2 MWh of electricity.

    Total energy consumption increased by 2.5% to 228 Mtoe in 2022, after remaining stable from 2018 to 2021. It had increased rapidly before 2015 (4%/year as from 2010), driven by high sustained economic growth combined with low energy prices, and then slowed down until 2018.

  • Issues & Prospects


    Saudi Arabia targets a rapid increase in its gas production, with a focus on an increased penetration of gas in power generation. Saudi Aramco aims to double its gas production in ten years to more than 200 bcm/year by 2030.

  • GRAPH 1: CO2-Energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (US$/l)
  • GRAPH 6: Electricity prices for industry and households (US$c/kWh)
  • GRAPH 7: Consumption trends by energy source (Mtoe)
  • GRAPH 8: Total consumption market share by energy (2022, %)
  • GRAPH 9: Final consumption market share by sector (2022, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Saudi Arabia energy market data since 1990 and up to is included in the Excel file accompanying the Saudi Arabia country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Saudi Arabia Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Saudi Arabia energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Saudi Arabia country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.