BlackRock, Saudi asset manager Hassana sign deal for Aramco's gas pipelines | Reuters
Saudi Aramco (2222.SE) said on Monday it has signed a $15.5 billion lease-and-leaseback deal for its gas pipeline network with a consortium led by BlackRock Real Assets and state-backed Hassana Investment Co.
Gulf oil producers are looking at sales of stakes in energy assets and raising cash through long-term leases, capitalising on a rebound in crude prices to attract foreign investors.
Earlier this year Aramco sold a 49% stake in its oil pipelines to a consortium led by U.S.-based EIG under a similar structure for $12.4 billion.
As part of the latest transaction, a newly formed subsidiary, Aramco Gas Pipelines Co, will lease usage rights in the state energy firm's gas pipelines network and lease them back to Aramco for a 20-year period, it said.
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