ADPF, ADQ to invest $2.1bn in ADNOC gas pipeline infrastructure

SourceMubasher
SectorOil & Gas
CountryUnited Arab Emirates

UAE - Mubasher: Abu Dhabi Pension Fund (ADPF) and ADQ will invest AED 7.7 billion ($2.1 billion) in the gas pipeline infrastructure assets of Abu Dhabi National Oil Company (ADNOC). Under the agreement, ADNOC will sell to ADQ and ADPF 20% of ADNOC Gas Pipelines HoldCo, a wholly-owned subsidiary of ADNOC, according to a press release on Thursday. ADNOC Gas Pipelines HoldCo owns 100% of ADNOC’s stake in Gas Pipeline Assets (ADNOC Gas Pipelines), which has lease rights to 38 gas pipelines. In July 2020, a consortium of global investors allocated $10.1 billion to acquire a 49% stake in the same select ADNOC gas pipeline infrastructure assets. The consortium comprises Global Infrastructure Partners, Brookfield Asset Management, ...read more...