Saudi Aramco has signed a lease and leaseback deal with an international consortium for its gas pipeline network which will generate $15.5bn for the energy giant. The move comes just months after Aramco closed a similar $12.4bn deal covering its oil pipelines (MEES, 25 June), with the total amount raised from the two deals $27.9bn.

In a 6 December statement, Aramco says that “upon completion of the gas pipeline transaction, Aramco will receive upfront proceeds of $15.5bn, further strengthening its balance sheet. The deal unlocks additional value from Aramco’s diverse asset base and has attracted interest from a wide range of worldwide investors, highlighting the compelling investment opportunity.” (CONTINUED - 1067 WORDS)