Aramco Eyes New Gas Division Amid LNG Expansion Plans

Saudi Aramco is planning to create a new gas business that will allow it to develop its natural gas resources domestically while strengthening its liquefied natural gas (LNG) portfolio abroad, according to Reuters.

The state-owned energy company currently lacks an LNG import or export terminal, but this move could change the landscape. Aramco's new gas division would give it more control over its domestic natural gas resources and provide opportunities for growth in the international LNG market.

This development is significant as Saudi Arabia seeks to reduce its reliance on oil exports and diversify its energy portfolio. The creation of a new gas business could also have implications for the country's overall economic strategy.