Adnoc signs Dh76 billion deals with consortium

Adnoc signs Dh76 billion deals with consortium

The Abu Dhabi National Oil Company (Adnoc) announced on Tuesday that it has entered into an agreement with some of the world's leading infrastructure investors and operators, sovereign wealth and pension funds.A consortium of investors comprising Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore's sovereign wealth fund GIC, Ontario Teachers' Pension Plan Board (Ontario Teachers'), NH Investment & Securities and Snam (the consortium), will invest in select Adnoc gas pipeline assets valued at $20.7 billion (Dh76 billion).In one of the largest global energy infrastructure transactions, the consortium will collectively acquire a 49 per cent stake in Adnoc Gas Pipeline Assets (henceforth referred to as "Adnoc Gas Pipelines"), a newly formed subsidiary of Adnoc with. lease rights to 38 pipelines covering a total of 982.3 kilometers, with Adnoc holding the 51 per cent majority stake.. The innovative transaction structure allows Adnoc to tap new pools of global institutional investment capital, whilst at the same time maintaining full operating control over the assets included as part of the investment.. The gas pipeline network connects Adnoc's upstream assets to local UAE off-takers.. For Adnoc's partners, this transaction represents a unique opportunity to invest in quality energy infrastructure assets with a low-risk profile that