Saudi Aramco is looking to sell a minority stake in its gas pipelines to raise at least $17 billion, local reports have said.
It had roped in Morgan Stanley in June to help structure this deal on the lines of the $12.4 billion the company raised from its oil pipeline deal.
Potential bidders include North American private-equity and infrastructure funds, as well as state-backed funds in China and South Korea.
Aramco has reportedly approached them through its advisers before the formal sale process starts in the next few weeks.
The companies tapped reportedly include the ones who took part in the stake sale process for the gas pipelines of Abu Dhabi National Oil Co or Adnoc.
That stake was bought by a consortium of investors including Global Infrastructure Partners GIP, Brookfield, Singapore sovereign wealth fund GIC, and European gas infrastructure owner and operator SNAM.
Aramco, the world’s largest oil company, reportedly plans to sell off quite a few of its assets in the coming few years to raise tens of billions of dollars.