ADNOC gas assets gets $2.1 bln in investment from Abu Dhabi Pension Fund, ADQ

Abu Dhabi Pension Fund and state holding company ADQ will invest $2.1 billion in Abu Dhabi National Oil Co gas pipeline assets. (File photo)

Abu Dhabi Pension Fund (ADPF) and state holding company ADQ will invest $2.1 billion in Abu Dhabi National Oil Co (ADNOC) gas pipeline assets, ADNOC said on Thursday.

They will take a 20 percent stake in ADNOC Gas Pipelines, it said in a statement, a subsidiary with lease rights to 38 gas pipelines covering 982 kilometers.

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In June, a consortium of Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, the Ontario Teachers’ Pension Plan Board, NH Investment & Securities and Italy’s Snam agreed to invest $10.1 billion in ADNOC gas pipeline assets for a 49 percent collective stake.

ADQ, which was established in 2018, owns assets such as Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX.

It has also built up a portfolio of food and agriculture businesses and recently took a 22 percent stake in Dubai-based courier Aramex.

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Last Update: Thursday, 15 October 2020 KSA 21:39 - GMT 18:39
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