October 21, 2020<\/p>\n\n\n\n
The Abu Dhabi Pension Fund (ADPF) and holding company ADQ have made a $2.1 billion investment in the state???s gas pipeline assets.<\/p>\n\n\n\n
The state pension fund and holding company will take a one-fifth stake in the gas pipeline assets owned by the Abu Dhabi National Oil Company (ADNOC), which oversees 38 pipelines spanning 610 miles, the state-owned oil company ADNOC said last week.<\/p>\n\n\n\n
???The addition of these high-caliber UAE investors sets a new benchmark for leading global and domestic institutional investors to deploy long-term equity capital into key ADNOC energy infrastructure assets,??? the UAE Minister of Industry and Advanced Technology and ADNOC Group CEO Dr. Sultan Al Jaber said in a statement.<\/p>\n\n\n\n
The two have joined a consortium of yield-seeking global investors who took stakes in the ADNOC Gas Pipelines subsidiary earlier this summer. Brookfield Asset Management, Singapore???s sovereign wealth fund GIC, New York-based Global Infrastructure Partners (GIP), NH Investment and Securities, Italy???s Snam, and the Ontario Teachers??? Pension Plan Board (OTPPB) have jointly invested $10.1 billion to gain a 49% stake in the assets. It???s the second time the ADPF has entered an investment partnership for ADNOC???s infrastructure assets.<\/p>\n\n\n\n
Last year, the pension fund made a $300 million investment into some of the firm???s oil pipelines. Over the summer, ADNOC and ADQ also entered a joint venture to fund industrial projects within oil and natural gas complex Ruwais Derivatives Park.<\/p>\n\n\n\n
UAE. Abu Dhabi Pension Fund and ADQ to Invest $2.1 Billion in Gas Pipelines<\/p>","protected":false},"author":4,"featured_media":961,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n