Aramco Gas Spinoff Considered as Saudi Giant Seeks Cash and Investment
Saudi Aramco is exploring options to spin off its growing gas business into a new division and list part of it, as the company faces increasing pressure to raise cash for the government and attract foreign investment.
The state-controlled oil producer plans to create a third business segment focused on gas operations, in addition to its upstream and downstream divisions. This move is aimed at boosting its gas output by more than 80% by 2030 through investments in domestic projects like the $100 billion Jafurah field development.
Aramco has also been working on plans to monetize other assets and raise as much as $35 billion, according to earlier reports. The company has previously considered spinning off its trading unit, insurance arm, and airline.