Aramco Expands into Gas Division Amid Asset Listings Push

Saudi Aramco is planning to reorganize its business and establish a dedicated gas division, a move that would shift the company's structure from two main segments to three. The new gas division would allow Aramco to develop its domestic natural gas resources and expand its liquefied natural gas (LNG) portfolio internationally.

The restructuring follows a broader strategy among Gulf state oil companies to attract external investment into selected businesses while retaining operational control and limiting outside ownership of their core oil-producing operations. ADNOC, the UAE's state-owned company, has listed stakes in its gas, drilling, and retail fuel businesses.

Aramco is considering a potential listing of a minority stake in the new gas business as one option to raise cash, similar to its 2019 minority listing on the Saudi Exchange. The company is also exploring other financing options, including lease-and-leaseback agreements.