Last December, the company commissioned the American investment bank "Moelis & Co." to develop a strategy to sell stakes in some of its subsidiaries, with the aim of raising about $ 10 billion to raise financial resources.
Informed sources said that Saudi Aramco is considering selling a stake in its vast natural gas pipeline network. To help free up liquidity and attract more international investors to the Kingdom.
On Monday, Bloomberg quoted sources as saying that the state-owned energy production company is holding preliminary discussions about a possible move, which could raise billions of dollars for Aramco in Dhahran, depending on how the deal is structured.
The sources said that the deliberations are at an early stage, and there is no certainty that Aramco will go ahead with the deal, while Aramco declined to comment.
Earlier this month, it said it would raise more than $ 12 billion to sell a stake in its oil pipeline unit to a commercial consortium led by EIG Global Energy Partners.
And last week, Bloomberg said the company was also conducting a strategic review of its exploration and production business, a move that could make it offer outside investors to some of its oil and gas assets.
Aramco's chairman, Yasser Al-Rumayyan, has begun selling stakes in non-core assets to help maintain the company's $ 75 billion in profits, most of which goes to the Saudi government.
Aramco's main gas system is a network of pipelines that connect its production to processing sites across the kingdom.
The current infrastructure capacity is about 9.6 billion cubic feet per day, according to Aramco's annual report.
Saudi Arabia has the eighth largest gas reserves in the world, and the largest in the Arab world after Qatar, according to BP Plc.
The kingdom has mostly ignored these companies because they focused instead on its huge oil reserves.
In recent years, the government has sought to increase gas production, which reached a record level in 2020, to diversify the economy and move to cleaner fuels for local power plants.
Last December, the company commissioned the American investment bank "Moelis & Co." to develop a strategy to sell stakes in some of its subsidiaries, with the aim of raising about $ 10 billion to provide financial resources in light of the decline in oil revenues due to the global price drop.
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