State oil company Saudi Aramco is reportedly seeking to partner with a bank to seek advice on investing in and acquiring natural gas assets around the world.

In late 2017, Aramco invited international banks to pitch for the advisory role to help the oil giant target and study lucrative gas assets for potential acquisition, according to a report by Bloomberg, which quoted anonymous sources.

Aramco is investing heavily in raising its gas production as part of its strategic programme to meet Saudi Arabia’s growing gas requirements. Constricted by a shortage of gas reserves, Aramco is compelled to import liquefied natural gas (LNG) from external sources.

Recently, Russia, a major global LNG supplier, offered to provide Saudi Arabia with gas supplies from its new Arctic project.

MEED has also reported that Aramco is looking to invest in shale assets in the US, in a bid to raise gas output for the kingdom.