Aramco Nears $10 Billion Jafurah Pipeline Stake Sale to GIP

Saudi Aramco is in advanced talks to sell a roughly $10 billion stake in midstream infrastructure serving the giant Jafurah natural gas project to a group led by BlackRock Inc., according to people with knowledge of the matter.

The consortium is backed by BlackRock’s Global Infrastructure Partners unit and could reach an agreement as soon as the coming days, said the people, who asked not to be identified discussing confidential information.

The deal will involve pipelines and other infrastructure serving the $100 billion-plus Jafurah project, which Aramco is developing to supply domestic power plants as well as for export. ...