Saudi Aramco aims to raise at least $17 billion from selling a significant minority stake in its gas pipelines, with over $12.4 billion raised from Aramco’s oil pipeline deal, Reuters reported.

Aramco approached several potential bidders through its advisors before starting the formal sale process.

The bidders the company sought included state-backed funds in South Korea, as well as North American private equity and infrastructure funds.

“The gas deal is about the long-term view of gas utilization and consumption in Saudi Arabia,” a source familiar with deal told Reuters, pointing out why the gas pipeline deal may have higher proceeds.

The deal might have $3.5 billion equity and the remaining funds might be raised through bank debt, a source familiar with the transaction said, while another claimed the transaction size to exceed $20 billion.