Aramco Hires Morgan Stanley for Gas Pipeline Stake Sale

Saudi Aramco has hired Morgan Stanley as the lead adviser to review a potential multibillion-dollar stake sale in its natural gas pipeline network, people familiar with the matter said. Aramco is offloading stakes in non-core assets to help maintain its $75 billion dividend, most of which goes to the Saudi government. The company is also planning to spend about $35 billion on capital expenditure this year.  Aramco’s Master Gas System is a network of pipelines connecting its production with processing sites throughout the kingdom. The infrastructure has a capacity of about 9.6 billion cubic feet per day, according to Aramco’s annual report.”