BlackRock has finalized a $15.5 billion deal with Saudi Aramco for a stake in the oil giant’s natural-gas pipelines. The companies also have entered into a pact to explore low-carbon energy projects.
The 20-year arrangement, which is part of Aramco's portfolio optimization program, represents part of Saudi Arabia's push to sell assets and use the money to fund new industries such as artificial intelligence and electric vehicles, according to Bloomberg.
In December 2021, a BlackRock-led consortium consisting of Keppel Infrastructure Trust, Silk Road Fund, China Merchants Capital and Saudi Arabia’s state-owned Hassana Investment Co. signed one of the world’s largest energy infrastructure deals with Saudi Aramco — a deal that has now come to fruition.
As part of the latest transaction, a newly formed subsidiary, Aramco Gas Pipelines
