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Aramco Seeks to Raise $17bn from Gas Pipeline

Saudi oil major Aramco is looking to raise at least $17 billion from the sale of a significant minority stake in its gas pipelines, said sources.

 

The amount is higher than the $12.4 billion the company raised from its oil pipeline deal.

 

Potential bidders including North American private equity and infrastructure funds, as well as state-backed funds in China and South Korea have been approached by Aramco through its advisers before a formal sale process kicks off in the next few weeks.

 

According to sources, the companies tapped include the ones who took part in the stake sale process for Abu Dhabi National Oil Co’s gas pipelines, which was bought by a consortium of investors including Global Infrastructure Partners (GIP), Brookfield, Singapore sovereign wealth fund GIC and European gas infrastructure owner and operator SNAM.

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