Saudi Aramco plans to reorganize its business to create a new gas division as the company considers possible listings of business units to raise cash, two sources familiar with the matter told Reuters.

The reorganization would give Aramco three main business divisions — upstream, downstream and gas — with each unit led by its own president, one of the sources said. The company is also exploring other ways to raise cash, including lease-and-leaseback agreements.

The new gas business would provide Aramco with a focused platform to develop its natural gas resources in Saudi Arabia and build a liquefied natural gas (LNG) portfolio overseas. Aramco is also considering a minority listing of the gas business, the second source said. However, Aramco declined to comment.

Jafurah is central to Aramco’s domestic gas strategy. The unconventional gas field began operations last year and is expected at peak production to generate electricity equivalent to displacing 500,000 barrels per day of crude.

The company has been seeking outside capital as Saudi Arabia works to reduce its reliance on oil. Earlier, in August 2025, Aramco signed an $11 billion lease-and-leaseback agreement for its Jafurah gas processing facilities with a consortium led by Global Infrastructure Partners (GIP), part of BlackRock.

Under the agreement, Jafurah Midstream Gas Company was established to hold development and operating rights for the Jafurah Field Gas Plant and Riyas NGL Fractionation Facility and lease them back to Aramco for 20 years. Aramco holds a 51% stake in the company, while the consortium holds the remainder.