Shipsy SaaS plans Mideast expansion after raising $25m

Shipsy SaaS plans Mideast expansion after raising $25m
Shipsy SaaS plans Mideast expansion after raising $25m

Thank you for reading the news about Shipsy SaaS plans Mideast expansion after raising $25m and now with the details

Jeddah - Yasmine El Tohamy - closes $15.5bn gas pipeline deal with BlackRock, Hassana, other global investors

RIYADH: Aramco and an international investor consortium, led by affiliates of BlackRock and Hassana, announced today the successful closing of $15.5 billion gas pipeline deal.

The investors has acquired 49-percent stake in Aramco Gas Pipelines Co., a subsidiary of Aramco, according to a statement. Aramco retains the 51-percent majority stake in the company, and also retains full ownership and operational control of the gas pipeline network.

The consortium comprises leading institutional investors including, amongst others, Keppel Infrastructure Trust, Silk Road Fund, and China Merchants Capital.

As part of the transaction, first announced in December 2021, Aramco Gas Pipelines Co. and Aramco entered into a 20-year lease and leaseback arrangement in connection with Aramco’s gas pipeline network.

The announcement follows the closing of a $12.4 billion infrastructure transaction in connection with Aramco’s stabilized crude oil pipeline network in June 2021.

Concurrent with today's transaction, Aramco also signed a memorandum of understanding with BlackRock, to explore joint opportunities in future energy transition projects related to low carbon energy infrastructure. 

Aramco President & CEO, Amin H. Nasser, said: “This agreement is our second landmark infrastructure transaction in less than a year and another major step forward in our long-term value creation strategy. At the same time as Aramco raises gas production and seeks new opportunities in low-carbon energy sources over the next decade, the importance of our energy infrastructure in relation to global energy security and reliability is expected to grow in significance.”

Larry Fink, Chairman and CEO of BlackRock, said: “We are pleased to close this landmark transaction and deepen our partnership with Aramco by signing a Memorandum of Understanding to develop low carbon energy infrastructure together. Getting to a net zero world will not happen overnight. It requires us to shift the energy mix in incremental steps to achieve a green energy future. Bold, forward-thinking incumbents like Aramco have the technical expertise and capital to play a crucial role in this transformation, and we look forward to our future collaboration.”

Under this arrangement, Aramco Gas Pipelines Co. will receive a tariff payable by Aramco for the specified gas products that flow through the network, backed by minimum commitments on throughput.
The transaction does not impose any restrictions on Aramco’s production volumes.

These were the details of the news Shipsy SaaS plans Mideast expansion after raising $25m for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Emirates carried over 10m passengers this summer

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]