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.
Key Takeaways
AIHussain Al-Raqeeb, Director of Zad Consulting Center, highlighted the significance of Saudi Aramco establishing an independent gas unit.
Speaking to Al Arabiya Business, Al-Raqeeb noted that the Saudi economy has increasingly shifted toward using gas in factories and electricity generation, which is more cost-effective and allows more oil to be exported.
He added that Aramco is making major efforts to deliver gas to industrial cities and power producers through a large-scale project that requires substantial investment, with results expected to emerge over several years.
Al-Raqeeb continued that the gas sector is promising, and establishing an independent gas unit at Aramco will attract investors. He also pointed to the potential for an initial public offering of this unit on the stock market, which would boost its value and enable further expansion.
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