A consortium led by BlackRock Real Assets and Hassana Investment Co., the investment management arm of the General Organization for Social Insurance in Saudi Arabia, have signed one of the world’s largest energy infrastructure deals with Saudi Aramco.
The Saudi Arabian oil company said on Dec. 6 that it had signed a $15.5 billion lease and leaseback deal involving its gas pipeline network. This represents the second such infrastructure transaction by Aramco this year after the closing of the oil pipeline infrastructure deal earlier in June.
Upon completion of the gas pipeline transaction, Aramco will receive upfront proceeds of $15.5 billion, strengthening its balance sheet and unlocking additional value from Aramco’s diverse global asset base. The announcement follows a $12.4 billion lease and leaseback transaction concluded in June with a consortium led by EIG Global Energy Partners, which involved Aramco’s stabilized crude oil pipeline network.
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