🇸🇦 Saudi Aramco is about to have more gas than it knows what to do with.
So it's reportedly preparing to carve its entire gas business out into a separate company that could one day be listed.
The plan is internally dubbed "Project Gamma."
The surplus comes from the $100B Jafurah field, which started producing last year.
Wood Mackenzie estimates the kingdom could be left with as much as 50 billion cubic meters of spare gas a year once its own needs are covered.
Much of the gas will go to power plants being switched over from oil, which frees up more crude to sell abroad, and some will feed Riyadh's AI and data center push.
The rest has nowhere obvious to go. Saudi Arabia has never exported gas, and selling it overseas as LNG would mean building liquefaction plants it doesn't have.
An export terminal using Jafurah gas was pitched last year, then shelved, with Riyadh reportedly wanting to cover its own needs first.
Europe is scrambling for gas, and Riyadh's biggest headache is having too much of it
#sui
$SUI
So it's reportedly preparing to carve its entire gas business out into a separate company that could one day be listed.
The plan is internally dubbed "Project Gamma."
The surplus comes from the $100B Jafurah field, which started producing last year.
Wood Mackenzie estimates the kingdom could be left with as much as 50 billion cubic meters of spare gas a year once its own needs are covered.
Much of the gas will go to power plants being switched over from oil, which frees up more crude to sell abroad, and some will feed Riyadh's AI and data center push.
The rest has nowhere obvious to go. Saudi Arabia has never exported gas, and selling it overseas as LNG would mean building liquefaction plants it doesn't have.
An export terminal using Jafurah gas was pitched last year, then shelved, with Riyadh reportedly wanting to cover its own needs first.
Europe is scrambling for gas, and Riyadh's biggest headache is having too much of it
#sui
$SUI
