(MENAFN) Saudi Aramco has approved of a USD15.5 billion lease and leaseback agreement for its gas pipeline system along with a number of firms ran by BlackRock Real Assets and government-financed Hassana Investment Corporation.
The company mentioned that as part of the agreement, the newly constructed entity of the biggest exporting firm in the world, Aramco Gas Pipelines Company, is going to lease usage rights in the country energy corporation's gas pipelines system and lease them back to Aramco for a time span of 20 years.
Aramco Gas Pipelines Corporation is going to obtain a tariff payable by Aramco for the gas goods that are going to move through the network, supported by minimum obligations on output.
Aramco is going to host a 51 per cent majority share in Aramco Gas Pipeline Corporation and sell a 49 per cent share to stockholders ran by BlackRock and Hassana, that is the investment management supporter of the General Organization for Social Insurance (GOSI) in the kingdom.
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