11:55 AM EDT, 07/17/2025 (MT Newswires) -- A consortium led by BlackRock ( BLK ) is nearing a deal to invest $10 billion in the infrastructure of Saudi Aramco's Jafurah gas project in Saudi Arabia, Reuters reported Thursday citing people close to the matter.

The funds would be raised through a structure similar to previous infrastructure deals, allowing investors to earn tariffs from Saudi Aramco for the use of pipelines while the Saudi oil company maintains ownership of the underlying assets, the report said.

The deal is backed by Jafurah assets including gas pipelines and a processing plant, according to one of the sources.

BlackRock ( BLK ) declined to comment when reached by MT Newswires while Saudi Aramco did not immediately respond to a request for comment.

Shares of BlackRock ( BLK ) were up 2% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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