Abu Dhabi Pension Fund, ADQ invest $2.1bln in ADNOC energy infrastructure deal

SourceZawya
SectorOil & Gas
CountryUnited Arab Emirates

Abu Dhabi Pension Fund (ADPF) and ADQ, one of the region’s largest holding companies, will invest $2.1 billion into select Abu Dhabi National Oil Company (ADNOC) gas pipeline infrastructure assets.Under the terms of the agreement, ADNOC will divest 20 percent in ADNOC Gas Pipelines HoldCo, a wholly owned ADNOC entity that holds 100 percent of ADNOC’s interest in ADNOC Gas Pipeline Assets LLC (ADNOC Gas Pipelines), to ADPF and ADQ, ADNOC said in a statement.ADNOC Gas Pipelines is a subsidiary of ADNOC with lease rights to 38 gas pipelines covering a total of 982 kilometers. 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 ...read more...