Several firms submit bids to acquire stake in Aramco gas pipelines: Sources

10/11/2021 Argaam

Oil tanks of Saudi Aramco

BlackRock, Brookfield, and EIG are among the bidders for a stake in Saudi Aramco's gas pipeline network, Bloomberg reported, citing sources.

 

Italian energy infrastructure operator Snam SpA, China’s Silk Road Fund Co., and Saudi government-controlled Hassana Investment Co. also submitted offers to acquire stakes in the pipelines.

 

Bidders are currently discussing forming a consortium.

 

According to data compiled by Argaam, in October, five companies made it to the first-round bids for a potential multi-billion-dollar stake in Aramco’s gas pipeline network.

 

Other sources indicated that Saudi Aramco asked banks to arrange a loan ranging between $12 to $14 billion, to be offered to gas pipeline network’s buyers.

 

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