GASCO scraps plans to invest in gas extension projects

30/08/2020 Argaam

 

National Gas and Industrialization Co.’s (GASCO) board of directors approved on Aug. 27 not to proceed with setting up a new firm in the field of gas extension projects.

 

There is no financial impact from the decision, GASCO said in a statement to Tadawul on Sunday.

 

In March 2018, the Saudi gas distributor signed a four-month non-binding memorandum of understanding (MoU) with Oman-listed National Gas Co. (NGCI), Argaam reported.

 

The two companies said they will conduct a feasibility study to establish a new firm operating in the field of gas extension projects.

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