With investments of 7.7 billion dirhams

"Abu Dhabi Pensions" and "Holding" acquire 20% of "ADNOC Gas Pipelines"

  • ADNOC Gas Pipeline Company owns the rights to lease 38 gas pipelines.

    ■ from the source

  • Sultan Al Jaber: “Through this partnership, ADNOC will play an important role in supporting the well-being of citizens and the happiness of the UAE community.”


The Abu Dhabi National Oil Company (ADNOC) announced yesterday that it has signed an agreement through which the Abu Dhabi Pension Fund and the Holding Company (ADQ), one of the largest holding companies in the region, will invest 7.7 billion dirhams ($ 2.1 billion) in A specific group of ADNOC gas pipeline infrastructure assets.

And confirmed in a statement yesterday, that under this agreement, ADNOC will sell 20% of ADNOC Gas Pipeline Holding Company, which it owns wholly, and which owns 100% of ADNOC's stake in ADNOC Gas Pipeline Assets Company (ADNOC Gas Pipeline), to a fund. Abu Dhabi Pensions & Holdings (ADQ).

The ADNOC Gas Pipeline Company has the rights to lease 38 gas pipelines with a total length of 982 kilometers.

This investment comes on the heels of the establishment of a global consortium that includes Global Infrastructure Partners, Brookfield Asset Management, Singapore Sovereign Wealth Fund, Ontario Provincial Educators Pension Fund Board, and NH Investments and Securities. »And« SANAM », to invest 37.1 billion dirhams (10.1 billion dollars) in July 2020, to obtain a 49% stake in the same group of gas pipelines assets that ADNOC owns.

The agreement reflects ADNOC's keenness to involve local and international investors in the distinct opportunities it provides, as in the huge investment agreement in oil pipeline assets that it signed in September 2019.

The Minister of Industry and Advanced Technology and CEO of ADNOC and its Group of Companies, Dr. Sultan Ahmed Al Jaber, said: “In line with the directives of the wise leadership to attract investments and build partnerships that achieve the maximum possible value from the company's assets and resources, we are pleased to cooperate again with both the Abu Dhabi Retirement Fund and (Holding) (ADQ) in this smart investment in energy infrastructure assets, which provides a distinct model for global and local investment institutions wishing to invest capital in the long term in key assets of the energy infrastructure in (ADNOC). ”

He added: “The (Abu Dhabi Pension Fund) is a reliable investor for the savings of the country's citizens, and in order to ensure long-term growth and prosperity. Through this partnership, ADNOC will contribute an important role in supporting the well-being of citizens and the happiness of the UAE society, as this investment will generate additional value and stable and long cash returns. The term for our partners in the Abu Dhabi Retirement Fund and (Holding) ».

Al Jaber added: “The joining of two of the leading companies in the UAE to this investment confirms the excellence and quality of the energy infrastructure assets that ADNOC owns, and the returns it provides in the long term. It also contributes to cementing the confidence of the global investment community in the UAE and its position as a reliable investment destination.”

For his part, CEO of the Holding Company, Mohamed Hassan Al-Suwaidi, said: “The Holding invests in a group of basic infrastructure assets, which represent a major part of Abu Dhabi’s goal to achieve self-sufficiency in gas, and to reach its export at a rate that exceeds its import.”

Strategic partnership

The Director General of the Abu Dhabi Retirement Fund, Khalaf Abdullah Rahma Al Hammadi, stressed the importance of the distinguished strategic partnership between the Abu Dhabi Pension Fund and the Abu Dhabi National Oil Company (ADNOC) at all levels, indicating that the continued cooperation between the two parties in the field of investment contributes to diversifying the investment portfolio of the fund, and achieving Long-term returns, in the interest of citizens registered in the retirement system in the Emirate of Abu Dhabi.

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