Saudi Aramco is looking to raise at least $17bn from the sale of a significant minority stake in its gas pipelines, sources told Reuters today. A sale that large for a slice of the pipeline deal would be higher than the $12.4bn raised from its oil pipeline deal. Potential bidders including North American private equity and infrastructure funds, as well as state-backed funds in China and South Korea have been approached by Aramco through its advisers before a formal sale process kicks off in the next few weeks, they said. The deal size may include $3.5bn of equity and the remainder will be funded by bank debt, one source said, while another source said the transaction size could top $20bn. Saudi Arabia is the world’s sixth largest gas market, according to Aramco, whose Master Gas System (MGS) derives value from a range of gas deposits and helps deliver it […]