Saudi Aramco has asked banks to arrange a loan of between 12 and 14 billion dollars, with the aim of providing financing to potential buyers of its gas pipeline network.
According to Arabiya Net, sources said Aramco may raise at least $17 billion from selling a minority stake in the gas pipelines. The stake will be offered with a loan financing package already in force, amounting to approximately 80% of the transaction value.
Potential buyers include North American private equity and infrastructure funds, and government-backed companies in China and South Korea, which Aramco contacted before the start of the process. Official sale over the next few weeks.
Last June, Saudi Aramco and an international consortium of investors including EIG and Mubadala Investment Company announced the completion of the consortium's acquisition of a 49% stake in Aramco. To supply crude oil, a subsidiary of Saudi Aramco, which was recently established, for $12.4 billion.
The consortium included a wide range of investors from North America, Asia and the Middle East. This long-term investment by the consortium underscores the investment opportunity offered by Saudi Aramco's globally important pipelines, the company's strong long-term aspirations, and the Kingdom's being an attractive and desirable destination for institutional investors.
As part of the deal, announced in April 2021, Aramco Crude Oil Supply Company and Saudi Aramco entered into a lease-and-leaseback agreement for Saudi Aramco's crude oil pipeline network for the duration of the term. 25 years old.
In return, Aramco Crude Oil Supply Company will receive a tariff paid by Saudi Aramco for the quantities of crude oil flowing through the network, and this tariff is linked to a minimum volume of those quantities. Saudi Aramco will retain a majority stake of 51% in the new company.
Saudi Aramco will retain full ownership of the pipeline network with full operational control over it, and this transaction will not impose any restrictions on the company in terms of the amount of actual crude oil production. Which are subject to production decisions taken by the Kingdom of Saudi Arabia.
