Saudi Aramco Considers $100 Billion Gas Division Spin-Off

Riyadh, Sunday, 27 September 2026.
Saudi Aramco is exploring a major structural overhaul, code-named Project Gamma, that could separate its gas operations into a standalone entity valued at over $100 billion. Assisted by Evercore and Boston Consulting Group, the state energy giant is considering a potential public listing or minority stake sale for the new division. The strategic move aims to unlock substantial business value as Aramco aggressively expands domestic gas production, notably through its $100 billion Jafurah field development. By boosting gas output 80% by 2030, Aramco expects to generate $15 billion in incremental operating cash flow while freeing up 1 million barrels per day of crude oil previously burned for domestic power generation, redirecting it toward lucrative international exports. Concurrently, the company is weighing up to $35 billion in asset sales to fund state projects and sustain dividend payouts.