Abu Dhabi state energy firm Adnoc has pulled off another sizeable infrastructure deal, raising $2.1bn to be reinvested into the firm’s activities. Adnoc announced on 15 October that the Abu Dhabi Pension Fund (ADPF) and state holding company ADQ will invest $2.1bn into gas pipeline infrastructure in return for a 20% stake in Adnoc’s wholly-owned subsidiary Adnoc Gas Pipelines HoldCo.
Adnoc Gas Pipelines HoldCo holds Adnoc’s interest in Adnoc Gas Pipelines which is a newly established entity set-up to lease the rights to 38 pipelines totalling 982.3km for a period of 20 years “in return for a volume-based tariff subject to a floor and a cap.” (CONTINUED - 150 WORDS)