Kuwait readies $7bln pipeline deal as Gulf turns to foreign capital

For the Kuwait deal, Kuwait Petroleum Corp ⁠has hired HSBC alongside JPMorgan and Centerview Partners as advisers, the sources said. BlackRock's Global Infrastructure Partners led an $11 billion deal last year for Aramco's midstream assets tied to its Jafurah gas project, potentially the largest shale development outside the U.S. Besides the gas-fired plants sale, Aramco could divest other assets such as housing, pipelines and port infrastructure, sources have said. PIPELINE RETURNS ATTRACTIVEFor Gulf state firms, the stake sales allow them to free up capital for expansion and higher-growth projects while retaining operational control. A typical Gulf pipeline transaction gives investors a minority stake in a ring-fenced entity with long-term lease payments.