Aramco to List Gas Unit in Minority Deal

Saudi Aramco is planning to carve out a standalone gas unit from its upstream and downstream businesses, according to Reuters. This move could eventually support a minority listing to raise fresh capital.

The arrangement would create a dedicated platform with its own leadership to develop domestic gas, expand overseas LNG, and explore capital-raising options.

Aramco has reportedly tapped Evercore to advise on the restructuring - internally called Project Gamma. This follows a similar move on Jafurah, where Aramco used a lease-and-leaseback agreement with BlackRock GIP-led consortium to raise USD 11 bn in funding last year.