Bahrain’s Bapco Energies is joining Adnoc in leveraging its pipeline network to raise funds. On 11 September it announced the sale of a “minority ownership stake” in the Saudi Bahrain Pipeline Company to the infrastructure arm of American investment giant BlackRock.
The deal echoes one struck by Adnoc in 2020 when it sold 49% of its gas pipeline network for $10.1bn to a consortium of six financial investors including Blackrock (MEES, 26 June 2020). (CONTINUED - 177 WORDS)