Aramco Considers Creating Independent Gas Division as Jafurah and LNG Expansion Drive Restructuring
Saudi Aramco is considering reorganizing its business structure by creating an independent gas division, a move that reflects the growing importance of natural gas in the company’s strategy alongside the expansion of the Jafurah project and international investments in liquefied natural gas. According to a Reuters report published on September 22, 2026, citing informed sources, the proposal would add a third division to the company’s operating structure alongside its exploration and production, refining, chemicals and marketing businesses.
Third Gas Division Within Aramco’s Structure
According to Reuters, the new division—if the restructuring is completed—is expected to focus on developing gas operations inside and outside the Kingdom, including liquefied natural gas. The report said each division would be led by an independent president, marking an organizational shift that comes as Aramco’s gas portfolio has expanded in recent years.
Aramco has not yet announced a final decision on the new structure, so the move remains part of plans conveyed by sources rather than a fully detailed official announcement. This distinction is important when assessing the development, particularly as the company is simultaneously making major investments to increase gas production and enhance the flexibility of its portfolio.
Jafurah at the Heart of the Expansion Strategy
The unconventional Jafurah field is one of the key pillars of Aramco’s gas strategy. In June 2024, the company announced the award of contracts worth more than $25 billion for the second phase of Jafurah’s development and the third phase of expansion of the main gas network, as part of plans aimed at increasing sales gas production by more than 60% by 2030 compared with 2021 levels.
In August 2025, Aramco also signed an $11 billion sale-and-leaseback deal linked to gas-processing infrastructure in Jafurah with a consortium led by BlackRock’s Global Infrastructure Partners, while Aramco retained a controlling stake in the entity associated with the transaction.
Why Is Gas Taking on Greater Weight in the Company’s Portfolio?
Expanding its gas business gives Aramco an additional growth path alongside crude oil, while also supporting gas supplies for the domestic market, industry and power generation. Internationally, the company has expanded its presence across the liquefied natural gas value chain through multiple investments and agreements, as gas grows in importance within the global energy mix.
The potential restructuring suggests that the scale of these activities now warrants more specialized management, but it does not in itself mean an immediate change in asset ownership or a new public offering. Reuters reported that options related to attracting external capital may be under consideration, although any such move would require an official announcement before it could be treated as a final decision.
What Are Investors Waiting For?
Attention in the coming period will focus on whether Aramco formally announces the new structure, how it allocates assets and leadership among the divisions, and whether the gas division receives more detailed financial and operational disclosures. This information will be important for understanding the restructuring’s impact on the company’s strategy, cash flows and long-term investment plans.
Sources: Reuters and Saudi Aramco—strategic gas expansion and Jafurah project statements.
