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Saudi Aramco is in advanced talks to sell a ~$10bn stake in midstream infrastructure serving the giant $100bn+ Jafurah natural gas project to a consortium led by BlackRock’s Global Infrastructure Partners, as per sources. The deal, expected to be finalized soon, involves pipelines and related infrastructure supporting the unconventional gas field, which supplies domestic power and exports too. This move aligns with Aramco’s broader strategy of attracting international capital and selling stakes in some assets to support Saudi Arabia’s economic diversification plans. BlackRock has previously invested in Aramco’s gas pipeline network. Earlier this month it was reported that Aramco was also considering a sale of its power assets to raise upto $4bn.
Its newly issued 5.375% 2035s traded with a positive bias at 100.9, yielding 5.3%.
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