Saudi Aramco is exploring plans to create a standalone gas business as its natural gas operations expand. The company has reportedly hired Evercore to advise on the proposed restructuring. Aramco gas division plans could create a separate platform for its growing gas activities. The structure could also provide new opportunities for outside investment. However, Aramco has not publicly confirmed the reported details.
Boston Consulting Group has also advised Aramco on separating its gas operations. The internal restructuring effort reportedly carries the name Project Gamma. The proposal could help Aramco organize its gas assets under a more focused structure. It could also support the company’s plans for domestic gas development. Meanwhile, the new division could support international liquefied natural gas activities. Reports suggest the gas business could eventually attract outside investors through a public listing or minority stake sale.
Aramco has continued expanding its gas operations across Saudi Arabia. The company has placed particular attention on unconventional gas resources, including the Jafurah gas field. Production at Jafurah began in December 2025. Aramco expects the field to become an important source of additional gas supplies. The company also continues developing related processing and transportation infrastructure. Furthermore, Aramco aims to increase sales gas production capacity by about 80% by 2030. The company uses 2021 production levels as the baseline for this target.
The Jafurah project remains central to Aramco’s long-term gas strategy. The company targets two billion cubic feet of sales gas production each day by 2030. The project also includes ethane and natural gas liquids production. Aramco has already attracted external capital for parts of its gas infrastructure. In 2025, the company completed an $11 billion Jafurah midstream transaction. International investors provided funding through a lease and leaseback arrangement. The transaction showed how Aramco can bring external capital into major infrastructure projects.
The potential restructuring comes as Aramco continues seeking ways to unlock value from its assets. The company has explored partnerships, asset sales and other financing arrangements. At the same time, it continues investing in major energy projects across Saudi Arabia. A separate gas structure could give investors clearer access to a growing part of the business. It could also allow Aramco to focus management resources on gas development. Aramco gas division plans therefore connect with the company’s wider approach to capital and growth.
Aramco also continues developing its international liquefied natural gas strategy. The company has pursued opportunities that could expand its presence in global gas markets. A dedicated gas platform could help coordinate these activities with its domestic operations. It could also provide a clearer structure for future partnerships and investments. However, any major transaction would require further decisions and approvals. Aramco has not announced a confirmed timetable for a listing or minority investment. The reported plans therefore remain under consideration.
Aramco remains one of the world’s largest integrated energy companies. Its gas operations have become increasingly important within its broader business strategy. The company reported gas production of 10.2 billion standard cubic feet per day during early 2026. Meanwhile, continued investment could increase the role of gas within its future portfolio. Aramco gas division plans could therefore create another structure for developing these resources. Further details could emerge as the company evaluates its restructuring and investment options.
