Aramco’s creation of independent gas unit to attract investors, expert says
Establishing a standalone gas division at Aramco will boost investment and support Saudi Arabia’s growing reliance on gas, a consultant has said.
Saudi Aramco's creation of an independent gas unit is expected to attract investors and bolster Saudi Arabia's growing dependence on gas, according to a consultant. Hussain Al-Raqeeb, Director of Zad Consulting Center, emphasized the importance of this move during an interview with Al Arabiya Business. He pointed out that the Saudi economy is increasingly using gas for industrial processes and electricity generation, a more cost-effective approach that allows for higher oil exports.
Al-Raqeeb explained that Aramco is undertaking a large-scale project to supply gas to industrial cities and power producers, a venture that requires significant investment but is anticipated to yield results over several years. He further stated that the gas sector holds promise, and the establishment of an independent gas unit at Aramco will undoubtedly draw investors.
He also hinted at the potential for an initial public offering of this unit on the stock market, which would increase its value and facilitate further expansion.
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