Five companies selected to bid for Saudi Aramco gas pipeline stake: report

Logo of Saudi Aramco

Five companies have made it to the first-round bids for a potential multibillion-dollar stake in Saudi Aramco’s natural gas pipeline network, Bloomberg reported, citing people familiar with the matter.

Apollo Global Management Inc., Brookfield Asset Management Inc., BlackRock Inc., EIG Global Energy Partners LLC and Global Infrastructure Partners submitted non-binding offers for the asset late last week.

Saudi Aramco is seeking more than $15 billion for the gas pipeline stake. The state-owned oil giant will inform qualified bidders of the next bidding round in the coming days.

Other contenders may emerge for the stake, with some of the bidders likely to join hands given the size of the asset, the report noted.

In July, Saudi Aramco picked JPMorgan Chase & Co. and Goldman Sachs to advise on the planned stake sale in its natural gas pipeline network, Argaam reported.