Saudi Aramco considers stake sale in natural gas pipeline network: report

27/04/2021 Argaam


Saudi Arabian Oil Co. (Saudi Aramco) is considering the sale of a stake in its natural gas pipeline network, Bloomberg reported, citing sources.

 

The energy producer is holding preliminary discussions on the potential move, the sources said, adding that the discussions are in the early stages and it is currently uncertain if Saudi Aramco will proceed with the sale.

 

The deal could raise billions of dollars, depending on how it is structured.

 

According to data available with Argaam, Saudi Aramco entered into a deal with a consortium led by EIG Global Energy Partners (EIG) to optimize the value of its assets through a lease-and-lease-back agreement involving its stabilized crude oil pipeline network.

 

The company will receive upfront proceeds of around $12.4 billion upon closing, further strengthening its balance sheet through one of the largest energy infrastructure deals globally.

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