In one of the largest global energy infrastructure transactions that will give a strong impetus to strategic projects in the UAE, ADNOC has entered into an agreement with a consortium of major global investors in the field of infrastructure, to invest $ 20.7 billion in ADNOC gas pipeline assets.
The six companies involved in the consortium are Global Infrastructure Partners, Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board, NH Investment & Securities and Italian Sanam.
ADNOC holds a majority stake of 51%, and the group will acquire a 49% stake in ADNOC’s gas pipeline assets which is represented by a subsidiary of ADNOC with rights to lease 38 pipelines covering a total of 982.3 km.
Under the terms of the agreement, ADNOC will lease its ownership interest in the assets to ADNOC Gas Pipeline Company for a period of 20 years in exchange for a volume-based tariff subject to floor and ceiling. The deal will result in more than $ 10 billion in revenue for ADNOC.