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ADNOC Closes Landmark Energy Infrastructure Deal With Global Investor Consortium

Investment represents one of the largest global energy infrastructure transactions ever completed

Largest transaction to date in ADNOC’s ongoing strategy to proactively manage its assets, capital and optimize value across its value chain

Combined investment yielded $10.1 billion in foreign direct investment, underscores the UAE as an attractive, stable and long-term global investment destination

 

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Under the agreement, the Consortium collectively holds a 49% stake in ADNOC Gas Pipeline Assets LLC (ADNOC Gas Pipelines), 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.

Commenting on the closing of the transaction, Ahmed Jasim Al Zaabi, Group Chief Financial Officer at ADNOC, said: “The successful and rapid closing of this milestone transaction is testament to the confidence placed in ADNOC by the global investment community and in the UAE as an attractive and long-term investment destination. The caliber of these leading global investors, pension funds and operators underlines the premium quality and long-term attractiveness of ADNOC’s large-scale infrastructure assets. Following on from last year’s landmark oil pipeline infrastructure investment agreement, ADNOC has again demonstrated its ability to efficiently structure and close a mutually value-creating investment opportunity for our partners and investors, even during the current challenging circumstances.”

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.

This landmark transaction sets another benchmark for large-scale energy infrastructure investment into the UAE and wider region from leading global institutional investors following last year’s ground-breaking oil pipeline infrastructure investment agreement. It reinforces ADNOC’s focus and role as a catalyst for responsible and sustainable investment and value creation for Abu Dhabi and the UAE.

Release Details

July 15, 2020
Abu Dhabi

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group. Headquartered in Abu Dhabi, ADNOC is a primary catalyst for the UAE’s growth and diversification. To find out more, visit www.adnoc.ae

For media inquiries please contact:

Philip Robinson
Manager, ADNOC External Relations
+971 (0) 50 504 4934
probinson@adnoc.ae