Help Desk -
9958816305, 9810335381

ADNOC Closes Landmark Energy Infrastructure Deal With Global Investor Consortium

Gasoil News - Published on Wed, 29 Jul 2020

Image Source: ADNOC
The Abu Dhabi National Oil Company announced that it has closed its USD 20.7 billion gas pipeline infrastructure investment deal with a global investor consortium comprising Global Infrastructure Partners, Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board, NH Investment & Securities and Snam. The closing takes the combined investment in select ADNOC gas pipeline assets by the Consortium to USD 10.1 billion. Under the agreement, the Consortium collectively holds a 49% stake in ADNOC Gas Pipeline Assets LLC, with ADNOC owning the remaining 51% majority stake. Ownership over the pipelines, management of pipeline operations and all responsibility for associated operational and capital expenditures will remain with ADNOC.

The investment represents the largest global energy infrastructure transaction of 2020 to date. This agreement is also the largest transaction since ADNOC announced its intention to expand its partnership and investment model in 2017. Since then, ADNOC has sought to more proactively manage its capital and assets, brought in world-class partners and leading global institutional investors, accelerating the delivery of its smart growth strategy to unlock and optimize value for ADNOC, Abu Dhabi and the UAE.

Source :

Posted By : Yogender Pancholi on Wed, 29 Jul 2020
Related News from Gasoil segment