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Issue 8/2021 - Saudi Aramco and the EIG consortium signed a US$12.4 billion investment agreement for the crude oil pipeline network

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Saudi Aramco signed a US$12.
4 billion investment agreement with the EIG consortium for the investment in the crude oil pipeline network

On April 9, Saudi Arabian signed an agreement with a consortium led by EIG Global Energy Partners (EIG), one of the energy infrastructure investors, to optimize assets through lease-back and lease-back assets related to Saudi Aramco's stable crude oil pipeline network
.
Upon completion of the transaction, Saudi Aramco will receive a one-off gain
of approximately $12.
4 billion.

As part of the transaction, Saudi Aramco's newly formed subsidiary, Saudi Aramco Oil Pipelines, will lease access to Saudi Aramco's stable crude oil pipeline network for a period of 25 years
.
In return, Saudi Aramco Petroleum Pipeline will charge Saudi Aramco a pipeline usage fee for stable crude oil flowing through the network, as well as a small commitment fee
.
Saudi Aramco will hold a 51 percent majority stake in the new company, and a consortium led by EIG will hold a 49 percent stake
.
Saudi Aramco will continue to retain full ownership and operational control of
its stable crude oil network.

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