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It also consumes 25% of its production. Energy consumption per capita exceeds that of most industrial nations. Oil and its derivatives account for 50% cent of Saudi's electricity production, used mostly (>50%) for residential use. Peak power demand is growing by 8%/yr. Our analysis shows that if nothing changes Saudi may have no available oil for export by 2030. It Already Consumes All its Gas Production — Saudi Arabia produces 9.6bn ft3/day of natural gas. This is entirely consumed domestically. It is looking to raise gas production to 15.5bn ft3/day by 2015E, implying a 2011-15E CAGR of 12.7%. However, peak power demand is growing at almost 8% pa. We believe Saudi Arabia will need to find new sources to meet residential & industrial demand." As a result of its subsidies we calculate ‘lost’ oil and gas revenues to Saudi Arabia in 2011 to be over $80 billion. This could rise to US$400bn by 2035,” Rehman wrote. At the domestic level, we believe the only real way to rationalize energy consumption would be to reduce subsidy levels.”