Abu Dhabi funds to invest $2.1bn in Adnoc gas assets
- Date: 15-Oct-2020
- Source: Trade Arabia
- Sector:Financial Markets
- Country:UAE
Abu Dhabi funds to invest $2.1bn in Adnoc gas assets
The Abu Dhabi National Oil Company (Adnoc) has announced that Abu Dhabi Pension Fund (ADPF) and ADQ, one of the region's largest holding companies, will invest $2.1 billion into select Adnoc gas pipeline infrastructure assets.
Under the terms of the agreement, Adnoc will divest 20% in Adnoc Gas Pipelines HoldCo, a wholly owned Adnoc entity that holds 100% of Adnoc's interest in Adnoc Gas Pipeline Assets (Adnoc Gas Pipelines), to ADPF and ADQ.
Adnoc Gas Pipelines is a subsidiary of Adnoc with lease rights to 38 gas pipelines covering a total of 982 kilometres. In July 2020, a consortium of global investors, comprising Global Infrastructure Partners, Brookfield Asset Management, Singapore's sovereign wealth fund GIC, Ontario Teachers' Pension Plan Board, NH Investment & Securities and Snam (the Consortium), invested $10.1 billion for a
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