Natural gas production is also estimated lower than previous projections, as is coal output. Yet, the government kept its projection for LNG production unchanged at 30.1 mt this year. A draft government document says the pandemic could continue to slow global oil demand until 2024, while the decarbonization plans in major European economies could arise as a new threat to Russia's oil industry. Saudi Arabia: Investors led by EIG Global Energy Partners agreed to acquire a roughly $12.4 billion stake in a new Saudi Aramco oil pipeline company. The group will receive a 49% equity stake in a newly formed entity with rights to 25 years of rate payments for oil shipped through the Saudi oil giant's network of conduits, EIG said in a statement. The deal implies a total equity value of about $25 billion for Aramco Oil Pipelines.