Hadeel, Davide and Saeed Azhar

DUBAI, Reuters Saudi Aramco SE: has requested banks to provide a loan that is expected to range from $12 billion to $14 billion to its buyers for the gas pipeline network. Sources say it was arranging the loan as part of plans by the oil giant to fund asset sales.

According to sources, Aramco can raise up to $17 billion by selling a minority stake in the gas pipelines. It would include a loan financing package that is approximately 80% off the cost.

According to three people familiar with the matter, Aramco asked for proposals from the banks that funded the acquisition of oil pipelines by the company worth $12.4 million earlier in the year.

The deal included Aramco’s current and future stabilized crude oil pipelines. It was backed with $10.5 billion of financing by a wide range of banks, including JPMorgan, HSBC, Citi and HSBC (NYSE:).

Aramco has not yet responded to requests for comment about the funding for pipelines. Sources have confirmed that it is working closely with JPMorgan (NYSE:), Goldman Sachs and Goldman Sachs on the deal for gas pipelines.

Reuters reported in August that companies that have been in talks for Aramco’s gas pipeline assets include Global Infrastructure Partners (GIP), Brookfield, Singapore sovereign wealth fund GIC, European gas infrastructure owner and operator SNAM, as well as China’s Silk Road, Chinese state-backed investment fund CNIC Corp, South Korea’s sovereign wealth fund Korean Investment Corp (KIC) and NH Investment & Securities.

According to one source, potential buyers should submit bids before the end October.

Aramco was similar to Abu Dhabi National Oil Co., (ADNOC) using a leaseback agreement to transfer a 49% interest in the newly-formed Aramco Oil Pipelines Co. It also gave rights to 25 year tariff payments for oil it transported via its pipelines.

For its gas pipelines, it plans to employ a structure similar.