GIP says will not bid for Saudi Aramco's gas pipelines

Saudi Aramco is looking to raise at least $17bln from the sale of a significant minority stake in its gas pipelines

  
Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. Image used for illustrative purpose.

REUTERS/Maxim Shemetov

RIYADH- Private equity firm Global Infrastructure Partners (GIP) will not bid for Saudi Aramco's gas pipeline assets but is looking at other assets in the region, GIP founding partner Matthew Harris said on Wednesday.

There are other candidates for such opportunities in the region, including Qatar, Kuwait and Oman, Harris told Reuters on the sidelines of the Future Investment Initiative conference in Riyadh.

Investment opportunities exist in oil infrastructure, gas and LNG assets, he said.

Saudi Aramco is looking to raise at least $17 billion from the sale of a significant minority stake in its gas pipelines, sources previously told Reuters.

Reuters reported in August that companies that have been in talks for Aramco's gas pipeline assets include Global Infrastructure Partners (GIP), Brookfield and Singapore sovereign wealth fund GIC.  

Aramco and other Gulf oil producers are following Abu Dhabi and its plans to raise tens of billions of dollars through sales of stakes in energy assets, capitalising on a rebound in crude prices to attract foreign investors.  

(Writing by Hadeel Al Sayegh Editing by David Goodman and Barbara Lewis) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))


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