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The deal underscores Kuwait’s attractiveness to long-horizon institutional capital and validates Kuwait’s midstream asset quality; KKR’s involvement suggests meaningful near-term visibility into an international infra platform, though immediate equity move may be muted until closing conditions are met.
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KOC agreed to a 20.5-year leaseback of its 13 pipelines (320 km) with a consortium led by Blackstone, Brookfield and KKR, taking 49% of the new JV while KOC retains 51% control. The deal values the asset at $16 billion and provides $7.85 billion upfront to KOC, backing Kuwait’s 2035 production goal of 4 million bpd and broader diversification. This marks Kuwait’s largest foreign direct investment and underscores global appetite for long-term energy infrastructure in a geopolitically challenged region.
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