我是 LongbridgeAI，我可以总结文章信息。沙特阿美已开始从其贾富拉气田项目进行凝析油的商业销售，首批货物已运往泰国和印度。贾富拉项目是中东地区最大的富液页岩气田，计划到 2030 年每天生产 20 亿立方英尺的销售气。尽管凝析油对成品油市场的影响预计有限，但产量的增加可能会因过剩供应的担忧而影响液化石油气市场。预计将于 2027 年启动的阿米拉尔石化综合体可能有助于缓解未来的过剩风险
Saudi Aramco has started commercial sales of condensate following the late-2025 launch of the first phase of its mega gas project, Jafurah, with the first cargo loaded in January heading to Thailand and India--a move that could add pressure to the regional feedstock balance, sources said on Thursday.
As the largest liquid-rich shale gas field in the Middle East and the largest of its kind outside the U.S., the Jafurah gas plant is currently running at 450 million cubic feet per day following its initial startup. Upon completion by 2030, the project is expected to reach 2 billion cubic feet per day of sales gas, 420 million standard cubic feet/day of ethane and 630,000 barrels/day of high-value liquids, according to Aramco.
While condensate shares a similar quality with light crude oil and can be processed through splitters to yield naphtha, gas oil, and jet fuel, market sources anticipate only a limited impact on the broader refined products market due to thin volumes.
Instead, the primary market disruption is expected from the arrival of NGLs, with the first shipments estimated in late March following the initial condensate sales. This rise in production will particularly weigh on the LPG market at a time when petrochemical feedstocks are already under pressure from oversupply concerns.
"Saudi Arabia doesn't have a history of exporting ethane due to domestic consumption needs, but the increased LPG volume has no outlet but to Asia," a Singapore-based trader said.
"The export sale is sooner than expected," another producer source in China said, adding that the launch of the project will, on average, bring one additional LPG cargo to the market every month.
The long-term impact of this supply surge may be mitigated by the 2027 startup of the Amiral petrochemical complex, a joint venture between Aramco and TotalEnergies. The 1.65 million mt/year cracker is integrated with the SATORP refinery in Jubail on the country's east coast, placed within the same coastal industrial corridor as the Jafurah field in the Eastern Province.
Designed with flexible feed capabilities to consume naphtha and ethane, the new facility is seen by some market participants as a "new mouth to feed" that could help mitigate oversupply risks in the future.
This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.
Reporting by Yiwen Ju, yju@opisnet.com; Editing by Lujia Wang, lwang@opisnet.com
(END) Dow Jones Newswires
February 26, 2026 02:01 ET (07:01 GMT)
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