Friday 15 Nov
Egypt's Qalaa Holdings subsidiary, Taqa Arabia, announced that it will form an equal joint venture with Saudi Natural Gas Distribution Company (GAS) to establish a new company in Saudi Arabia. This was revealed by CEO Bakinam Kifafi.
Kifafi added in a statement that the new company aims to expand operations in natural gas distribution and contracting. She indicated that the establishment process is expected to be completed by the end of June 2025, with actual operations commencing in July 2025.
GAS had previously disclosed to
the Saudi Capital Market on Tuesday that it had signed an agreement with Taqa
Arabia to form a company in Saudi Arabia, without providing further details.
Saudi Aramco, the world's largest oil company, is investing billions of dollars in gas production. Its priority lies in meeting the growing domestic demand in Saudi Arabia, and then using the remaining produced gas to convert it into blue hydrogen."
