• 3 minutes Will Iron-Air batteries REALLY change things?
  • 7 minutes Natural gas mobility for heavy duty trucks
  • 11 minutes NordStream2
  • 9 hours U.S. Presidential Elections Status - Electoral Votes
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Australia sues Neoen for lack of power from its Tesla battery
  • 20 hours Evergrande is going Belly Up.
  • 1 day Europeans and Americans are beginning to see the results of depending on renewables.
  • 15 hours Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 14 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 8 hours Oil Price: does the security vacuum in the Middle East spook investors?
  • 7 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 1 day Ozone layer destruction driving global warming
  • 4 days Forecasts for Natural Gas
IEA Calls On Russia To Send More Natural Gas To Europe

IEA Calls On Russia To Send More Natural Gas To Europe

On Tuesday the International Energy…

Natural Gas Prices Can Still Double From Here

Natural Gas Prices Can Still Double From Here

Natural gas prices have absolutely…

Get Ready For The Energy Price Shock

Get Ready For The Energy Price Shock

Natural gas supply concerns continue…

City A.M

City A.M

CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…

More Info

Premium Content

Aramco Is Quietly Shedding Some Of Its Gas Pipeline Assets

Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for a slice of the pipeline deal would be higher than the $12.4bn 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, they said.

The deal size may include $3.5bn of equity and the remainder will be funded by bank debt, one source said, while another source said the transaction size could top $20bn.

Saudi Arabia is the world’s sixth largest gas market, according to Aramco, whose Master Gas System (MGS) derives value from a range of gas deposits and helps deliver it to consumers.

“The gas deal is about the long-term view of gas utilisation and consumption in Saudi Arabia,” said one source familiar with deal, explaining why the gas deal may generate higher proceeds.

The source said many industries will shift to gas under the economic Vision 2030, meaning domestic gas demand will rise.

Related: Why Are Environmentalists Angry About Biden’s Infrastructure Bill?

Aramco is working with JP Morgan and Goldman Sachs on the deal to tap potential buyers, sources have said.

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 .

Aramco, JPMorgan and Goldman declined to comment.

Brookfield and SNAM declined to comment. GIP did not immediately respond to a request for comment.

By City AM

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News