AGL 38.10 Increased By ▲ 0.85 (2.28%)
AIRLINK 123.00 Decreased By ▼ -1.02 (-0.82%)
BOP 5.75 Increased By ▲ 0.13 (2.31%)
CNERGY 3.73 Increased By ▲ 0.01 (0.27%)
DCL 8.44 Increased By ▲ 0.19 (2.3%)
DFML 41.20 Increased By ▲ 0.93 (2.31%)
DGKC 85.45 Decreased By ▼ -0.29 (-0.34%)
FCCL 32.70 Increased By ▲ 0.10 (0.31%)
FFBL 65.66 Decreased By ▼ -0.84 (-1.26%)
FFL 9.98 Decreased By ▼ -0.18 (-1.77%)
HUBC 104.10 Increased By ▲ 1.00 (0.97%)
HUMNL 13.40 No Change ▼ 0.00 (0%)
KEL 4.50 Increased By ▲ 0.25 (5.88%)
KOSM 7.10 Decreased By ▼ -0.08 (-1.11%)
MLCF 38.04 Decreased By ▼ -0.26 (-0.68%)
NBP 60.90 Decreased By ▼ -4.11 (-6.32%)
OGDC 171.85 Decreased By ▼ -1.95 (-1.12%)
PAEL 24.80 Decreased By ▼ -0.10 (-0.4%)
PIBTL 5.77 Decreased By ▼ -0.03 (-0.52%)
PPL 142.20 Decreased By ▼ -0.50 (-0.35%)
PRL 22.89 Decreased By ▼ -0.09 (-0.39%)
PTC 14.88 Decreased By ▼ -0.23 (-1.52%)
SEARL 64.70 Decreased By ▼ -0.65 (-0.99%)
TELE 7.13 Increased By ▲ 0.13 (1.86%)
TOMCL 35.50 Decreased By ▼ -1.41 (-3.82%)
TPLP 7.31 Decreased By ▼ -0.03 (-0.41%)
TREET 14.25 Decreased By ▼ -0.03 (-0.21%)
TRG 51.25 Increased By ▲ 1.55 (3.12%)
UNITY 26.26 Increased By ▲ 0.11 (0.42%)
WTL 1.24 No Change ▼ 0.00 (0%)
BR100 9,553 Decreased By -48.8 (-0.51%)
BR30 28,485 Decreased By -87.7 (-0.31%)
KSE100 89,751 Decreased By -535.9 (-0.59%)
KSE30 28,053 Decreased By -289.9 (-1.02%)
Business & Finance

Abu Dhabi Pension Fund, ADQ to invest $2.1bn in ADNOC gas assets

  • ADQ, which was established in 2018, owns assets such as Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX.
Published October 15, 2020

DUBAI: Abu Dhabi Pension Fund (ADPF) and state holding company ADQ will invest $2.1 billion in Abu Dhabi National Oil Co (ADNOC) gas pipeline assets, ADNOC said on Thursday.

They will take a 20% stake in ADNOC Gas Pipelines, it said in a statement, a subsidiary with lease rights to 38 gas pipelines covering 982 kilometres.

In June, a consortium of Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapore's sovereign wealth fund GIC, the Ontario Teachers' Pension Plan Board, NH Investment & Securities and Italy's Snam agreed to invest $10.1 billion in ADNOC gas pipeline assets for a 49% collective stake.

ADQ, which was established in 2018, owns assets such as Abu Dhabi Ports, Abu Dhabi Airport and bourse operator ADX.

It has also built up a portfolio of food and agriculture businesses and recently took a 22% stake in Dubai-based courier Aramex.

Comments

Comments are closed.