UAE Oil Giant ADNOC announces USD 20 billion Energy Infrastructure Deal

An energy infrastructure agreement worth 20.7 billion U.S. dollars has been signed between the Abu Dhabi National Oil Company (ADNOC) and a syndicate of investors and funds. The announcement about the same has been made by the ADNOC, the state-owned oil company of the United Arab Emirates (UAE), on June 23.

The world’s leading infrastructure investors and operators, as well as, sovereign wealth and pension funds, including Brookfield Asset Management, Singapore’s sovereign wealth fund GIC; Global Infrastructure Partners (GIP); NH Investment & Securities; Ontario Teachers’ Pension Plan Board, Ontario Teachers and Snam are some of the members comprising of the syndicate that entered into a deal with the ADNOC.

Reports stated that the syndicate will invest in gas pipeline assets of the ADNOC. It added that in one of the largest global energy infrastructure transactions, the consortium will collectively acquire a 49 percent stake in ADNOC Gas Pipeline Assets LLC, a newly formed subsidiary of ADNOC, with lease rights to 38 pipelines covering a total of 982.3 KM, with ADNOC holding a 51 percent majority stake.

Photo Credit : https://en.m.wikipedia.org/wiki/File:ADNOC_Logo.png

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