Connection

popular articles

Harmony Energy successfully activates 35 MW / 70 MWh Rusholme site
The Czech Republic Ends Its Dependence on Russian Oil
Iran’s Nuclear Program: Acceleration and Geopolitical Challenges
Renewable energy dominates Dutch electricity production in 2024
Jupiter Power boosts ERCOT network with 400MWh of storage in Houston

BlackRock launches bond issue to refinance Aramco Gas Pipelines

BlackRock-led investors in Aramco's pipeline network are preparing to issue bonds to refinance a $13.4 billion loan.
Refinancement obligations Aramco pipelines

Please share:

BlackRock-led investors in Saudi Aramco’s gas pipeline network (2223.SE) have mandated banks to arrange meetings with investors ahead of a possible bond issue. This is to refinance a $13.4 billion bridge loan that supported their 49% stake in Aramco Gas Pipelines Co in 2021. This refinancing is part of a $15.5 billion leasing agreement.

Objectives and details of the bond issue

The 12- and 18-year amortizable bonds, denominated in US dollars, will be issued subject to market conditions. The slices have weighted average lives of 10 and 14.5 years respectively. Greensaif Pipelines Bidco, the debt issuer indirectly owned by BlackRock and Hassana Investment Co, has recruited JPMorgan and Standard Chartered to organize fixed-income investor meetings.
In February last year, Greensaif had already raised $4.5 billion through the sale of amortizing bonds. The purpose of this new issue is to continue refinancing the bridging loan, thereby optimizing the financial terms of the initial investment.

Background and strategic implications

In 2021, a similar lease-and-leaseback agreement saw Aramco sell a 49% stake in its oil pipeline network to a consortium led by US-based EIG Global Energy Partners for $12.4 billion. This type of agreement enables Aramco to free up cash while retaining operational control of its assets.
The bonds to be issued by Greensaif Pipelines Bidco will diversify sources of financing and reduce dependence on bridging loans. BlackRock and its affiliates own 77.2% of Greensaif, while the remainder is owned by Hassana, the investment arm of Saudi Arabia’s General Organization of Social Security.

Impact on the financial market

These transactions are part of Saudi Aramco‘s broader strategy to optimize its asset portfolio and strengthen its financial capabilities. Institutional investors like BlackRock see these transactions as stable, long-term investment opportunities in energy infrastructure.
The continuation of these bond issues underlines the growing interest in Middle Eastern energy assets, attracting international capital and strengthening economic partnerships. This dynamic could encourage other players in the energy sector to adopt similar strategies to maximize the value of their assets.
Greensaif Pipelines Bidco’s planned bond issue represents a key step in refinancing investments in Aramco’s pipeline network, illustrating the convergence of financial and strategic interests in the global energy sector.

Register free of charge for uninterrupted access.

Publicite

Latest news

Record-breaking 1.7 GW of US Community Solar Installed in 2024
Launch of the 100 MW Bramley Energy Storage Project in the UK
Hyvia, Renault’s hydrogen joint venture, placed in liquidation
Growth of the Lithium-Ion Battery Recycling Market: A Report from Deloitte and CAS Analyzes Key Trends
Orano envisages a long and uncertain restart for its uranium mine in Niger

Recently published in

Naturgy sees its net profit drop by 4.3% in 2024 due to weak gas prices

Spanish energy group Naturgy reports a 4.3% decrease in net profit for 2024, impacted by weak gas prices, despite results surpassing initial expectations.
Natural Gas: A Key Player in the Energy Transition Despite Economic and Environmental Challenges
Natural gas remains an essential part of the energy transition, supporting renewable energy while reducing emissions. However, challenges remain, particularly regarding carbon prices and the competitiveness of gas against coal.
en_1140290961540-11
Natural Gas: A Key Player in the Energy Transition Despite Economic and Environmental Challenges
Natural gas remains an essential part of the energy transition, supporting renewable energy while reducing emissions. However, challenges remain, particularly regarding carbon prices and the competitiveness of gas against coal.
en_1140290961540-11
Electrochaea Partners with Hitachi to Introduce Synthetic Methane in Japan
Electrochaea and Hitachi announce a strategic partnership aimed at introducing synthetic methane production technology to Japan, marking a significant milestone in the clean energy sector.
en_1140290953540-12
Electrochaea Partners with Hitachi to Introduce Synthetic Methane in Japan
Electrochaea and Hitachi announce a strategic partnership aimed at introducing synthetic methane production technology to Japan, marking a significant milestone in the clean energy sector.
en_1140290953540-12
France Becomes Europe’s Leading Hub for Russian LNG Despite Restrictions
France’s imports of liquefied natural gas (LNG) from Russia surged by 81% between 2023 and 2024, reaching €2.68 billion. With its extensive port infrastructure, France has become the primary entry point for Russian LNG into Europe, marking a shift in the market landscape.
en_1140290959540-10
France Becomes Europe’s Leading Hub for Russian LNG Despite Restrictions
France’s imports of liquefied natural gas (LNG) from Russia surged by 81% between 2023 and 2024, reaching €2.68 billion. With its extensive port infrastructure, France has become the primary entry point for Russian LNG into Europe, marking a shift in the market landscape.
en_1140290959540-10

TotalEnergies and ENI Secure a Strategic Gas Agreement Between Cyprus and Egypt

TotalEnergies and ENI have reached an agreement with Cyprus and Egypt to develop the Cronos gas field. This initiative aims to convert the resources of Block 6 into liquefied natural gas (LNG) for the European market, utilizing existing Egyptian infrastructure.
Kunlun Energy finalizes a ship-to-ship LNG bunkering in Hong Kong
The PetroChina subsidiary refuels 2,200 tons of Liquefied Natural Gas (LNG) for an international container ship, affirming Hong Kong’s strategic position. This breakthrough demonstrates regional cooperation and the expansion of LNG bunkering in Asia.
en_1140290988540
Kunlun Energy finalizes a ship-to-ship LNG bunkering in Hong Kong
The PetroChina subsidiary refuels 2,200 tons of Liquefied Natural Gas (LNG) for an international container ship, affirming Hong Kong’s strategic position. This breakthrough demonstrates regional cooperation and the expansion of LNG bunkering in Asia.
en_1140290988540
Launch of Two New Wells in the Raven Gas Field in Egypt
BP has announced the commissioning of two new wells in the Raven gas field, part of the West Nile Delta project in Egypt. This expansion aims to increase the country's natural gas production and support national energy objectives.
en_1140290998540
Launch of Two New Wells in the Raven Gas Field in Egypt
BP has announced the commissioning of two new wells in the Raven gas field, part of the West Nile Delta project in Egypt. This expansion aims to increase the country's natural gas production and support national energy objectives.
en_1140290998540
Commonwealth LNG reaches a key milestone for its U.S. export project
Commonwealth LNG has obtained a conditional non-free trade agreement (non-FTA) export authorization from the U.S. Department of Energy and a draft Supplemental Environmental Impact Statement (SEIS) from the FERC, marking significant progress toward a final investment decision in September 2025.
en_1140290984540-2
Commonwealth LNG reaches a key milestone for its U.S. export project
Commonwealth LNG has obtained a conditional non-free trade agreement (non-FTA) export authorization from the U.S. Department of Energy and a draft Supplemental Environmental Impact Statement (SEIS) from the FERC, marking significant progress toward a final investment decision in September 2025.
en_1140290984540-2

Eni extends Zohr gas field exploration in Egypt by two years

Italian oil company Eni plans to continue its exploration activities at the Zohr gas field in Egypt for an additional two years. This decision comes as the site’s production has declined in recent years, impacting the country’s energy supply.
Algeria: Sonatrach Partially Restarts Alrar Gas Complex
After a fire in November 2024, the Alrar gas complex in Illizi has resumed part of its operations. Three out of four production trains are now operational, while the rehabilitation of the last one is still underway.
en_1140290977540
Algeria: Sonatrach Partially Restarts Alrar Gas Complex
After a fire in November 2024, the Alrar gas complex in Illizi has resumed part of its operations. Three out of four production trains are now operational, while the rehabilitation of the last one is still underway.
en_1140290977540
France: Equinor and Danske fined €12 million: Companies challenge CRE’s decision
The French Energy Regulatory Commission (CRE) has imposed a €12 million fine on Equinor and Danske Commodities for market manipulation during gas transport auctions. Equinor disputes the decision and has announced its intention to appeal.
en_1140290966540
France: Equinor and Danske fined €12 million: Companies challenge CRE’s decision
The French Energy Regulatory Commission (CRE) has imposed a €12 million fine on Equinor and Danske Commodities for market manipulation during gas transport auctions. Equinor disputes the decision and has announced its intention to appeal.
en_1140290966540
TotalEnergies signs a 10-year contract to supply LNG to GSPC
TotalEnergies has entered into an agreement with Gujarat State Petroleum Corporation Limited (GSPC) to deliver 400,000 tons of liquefied natural gas (LNG) per year starting in 2026. This ten-year contract strengthens the French group's presence in the Indian energy market.
en_1140290960540-9
TotalEnergies signs a 10-year contract to supply LNG to GSPC
TotalEnergies has entered into an agreement with Gujarat State Petroleum Corporation Limited (GSPC) to deliver 400,000 tons of liquefied natural gas (LNG) per year starting in 2026. This ten-year contract strengthens the French group's presence in the Indian energy market.
en_1140290960540-9

Kazakhstan Strengthens Gas Exports to China in 2025

QazaqGaz and PetroChina have signed an agreement to increase Kazakh gas exports to China in 2025. This expansion is part of a broader strategic energy cooperation between the two countries, further solidifying their commercial and economic ties.
Entergy Texas partners with Kinder Morgan and Golden Pass LNG to secure gas supply
Entergy Texas has entered into an agreement with Kinder Morgan to ensure a reliable natural gas supply for the growing Southeast Texas region. This initiative is part of the Trident Intrastate Pipeline project, aimed at strengthening energy reliability and supporting local industrial expansion.
en_1140290948540-9
Entergy Texas partners with Kinder Morgan and Golden Pass LNG to secure gas supply
Entergy Texas has entered into an agreement with Kinder Morgan to ensure a reliable natural gas supply for the growing Southeast Texas region. This initiative is part of the Trident Intrastate Pipeline project, aimed at strengthening energy reliability and supporting local industrial expansion.
en_1140290948540-9
Acceleration of the Trans-Saharan Gas Pipeline Project: Algiers, Abuja, and Niamey Sign Key Agreements
Algeria, Nigeria, and Niger strengthen their commitment to constructing the Trans-Saharan Gas Pipeline. Three agreements were signed in Algiers to accelerate the project aimed at transporting Nigerian gas to Europe, addressing the growing demand in the energy market.
en_1140290955540-9
Acceleration of the Trans-Saharan Gas Pipeline Project: Algiers, Abuja, and Niamey Sign Key Agreements
Algeria, Nigeria, and Niger strengthen their commitment to constructing the Trans-Saharan Gas Pipeline. Three agreements were signed in Algiers to accelerate the project aimed at transporting Nigerian gas to Europe, addressing the growing demand in the energy market.
en_1140290955540-9
Maurel & Prom acquires 40% of the Sinu-9 gas permit in Colombia
Maurel & Prom has entered into a definitive agreement with NG Energy International to acquire 40% of the operated shares in the Sinu-9 gas permit in Colombia. This acquisition aligns with the group’s regional expansion strategy and strengthens its involvement in the Colombian gas sector.
en_1140290959540-9
Maurel & Prom acquires 40% of the Sinu-9 gas permit in Colombia
Maurel & Prom has entered into a definitive agreement with NG Energy International to acquire 40% of the operated shares in the Sinu-9 gas permit in Colombia. This acquisition aligns with the group’s regional expansion strategy and strengthens its involvement in the Colombian gas sector.
en_1140290959540-9

Trinidad and Tobago Strengthens Gas Revenues Despite a Drop in Exports

Trinidad and Tobago consolidates its gas strategy by securing prices above the American Henry Hub (HH) index, despite a monthly decrease in exports. Authorities are pursuing exploration projects to bolster production and diversify pricing indices. ##
Tanzanian authorities pursue tax incentives to bring an ambitious LNG project to fruition
The government of Tanzania is working to finalize an attractive fiscal framework for a $42 billion gas project. Industrial partners are awaiting these guarantees to confirm their investments, while regional competition speeds up market developments.
en_1140290946540-8
Tanzanian authorities pursue tax incentives to bring an ambitious LNG project to fruition
The government of Tanzania is working to finalize an attractive fiscal framework for a $42 billion gas project. Industrial partners are awaiting these guarantees to confirm their investments, while regional competition speeds up market developments.
en_1140290946540-8
Turkey Secures a New Gas Agreement with Turkmenistan
Ankara strengthens its energy supply with an agreement signed on February 11, 2025, with Turkmengaz. The first deliveries of Turkmen natural gas are scheduled for March, marking a strategic step in diversifying gas sources for Turkey and Europe.
en_1140290949540-8
Turkey Secures a New Gas Agreement with Turkmenistan
Ankara strengthens its energy supply with an agreement signed on February 11, 2025, with Turkmengaz. The first deliveries of Turkmen natural gas are scheduled for March, marking a strategic step in diversifying gas sources for Turkey and Europe.
en_1140290949540-8
Transnistria Bypasses European Offer with Russian-Hungarian Gas Alternative
Facing the end of Gazprom deliveries, Transnistria is now sourcing gas through a Hungarian company, financed by a Russian intermediary. The European Union had proposed aid, conditioned on reforms, which the separatist region rejected.
en_1140290948540-8
Transnistria Bypasses European Offer with Russian-Hungarian Gas Alternative
Facing the end of Gazprom deliveries, Transnistria is now sourcing gas through a Hungarian company, financed by a Russian intermediary. The European Union had proposed aid, conditioned on reforms, which the separatist region rejected.
en_1140290948540-8

European gas reserves fall below 50% as prices exceed $620

Gas prices in Europe have surpassed $620 per 1,000 cubic meters, reaching a level not seen in two years. At the same time, underground gas reserves have dropped below 50%, with withdrawal rates among the highest ever recorded for February. ##
Indian Companies Negotiate U.S. LNG to Secure Supplies
GAIL, Indian Oil, and BPCL are in talks with U.S. suppliers to purchase additional liquefied natural gas (LNG). The objective is to diversify supply sources and secure extra volumes following the lifting of U.S. export restrictions.
en_1140290952540-7
Indian Companies Negotiate U.S. LNG to Secure Supplies
GAIL, Indian Oil, and BPCL are in talks with U.S. suppliers to purchase additional liquefied natural gas (LNG). The objective is to diversify supply sources and secure extra volumes following the lifting of U.S. export restrictions.
en_1140290952540-7
Taiwan considers increasing its imports of American natural gas
Amid trade tensions with the United States, Taiwan's state-owned CPC Corporation is exploring an increase in its purchases of American natural gas. This decision could reshape its supplier distribution and redefine its international energy relations.
en_1140290945540-7
Taiwan considers increasing its imports of American natural gas
Amid trade tensions with the United States, Taiwan's state-owned CPC Corporation is exploring an increase in its purchases of American natural gas. This decision could reshape its supplier distribution and redefine its international energy relations.
en_1140290945540-7
Egypt secures 60 LNG cargoes from Shell and TotalEnergies in 2025
A 3-billion-dollar agreement has been negotiated between Egypt, Shell, and TotalEnergies for 60 LNG cargoes in 2025. The terms include an indexation on the Dutch TTF and staggered payments. Confirmation is still pending.
en_1140290943540-6
Egypt secures 60 LNG cargoes from Shell and TotalEnergies in 2025
A 3-billion-dollar agreement has been negotiated between Egypt, Shell, and TotalEnergies for 60 LNG cargoes in 2025. The terms include an indexation on the Dutch TTF and staggered payments. Confirmation is still pending.
en_1140290943540-6

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS