according to the materials from the site - By Cryptocurrency Press
BlackRock Global Infrastructure Partners has signed an $11 billion deal with Saudi Aramco to acquire gas processing assets at the Jafura field, marking a significant foreign investment in Saudi Arabia.
These investments align with Saudi Arabia's goals to expand its gas sector and could potentially influence global capital flows without having a direct impact on cryptocurrency markets.
This partnership reflects significant foreign investments in Saudi Arabia's energy sector.
Saudi Aramco retains a 51% stake, while the BlackRock consortium owns 49% of the new Jafurah Midstream Gas Company. Amin H. Nasser, CEO of Aramco, emphasized the project's value and its global investment appeal.
"Jafura is the cornerstone of our ambitious program to expand the gas sector, and the involvement of the consortium led by GIP as an investor in a key component of our unconventional gas projects demonstrates the project's attractiveness." - Amin H. Nasser, President and CEO of Saudi Aramco
The deal attracts $11 billion in foreign direct investment, bolstering Saudi Arabia's ambitions in the natural gas sector. It reflects growing international interest and confidence in Saudi Arabia's energy transition strategy.
The deal, structured as a 20-year leaseback arrangement, provides Aramco with guaranteed revenue through capacity fees, demonstrating a reliable investment model for participating foreign companies.
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