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Azerbaijan’s oil fund buys stake in Adnoc gas pipeline  

By Pramod Kumar
Spanning 982 km, the Adnoc Gas Pipeline Assets network comprises 38 pipelines Reuters
Spanning 982 km, the Adnoc Gas Pipeline Assets network comprises 38 pipelines

Azerbaijan’s state oil fund Sofaz has invested $50 million in Adnoc Gas Pipeline Assets (AGPA), one of the UAE’s critical energy assets.

The investment has been made through a specialised investment fund managed by Abu Dhabi-based Lunate, according to a press statement.

The move will diversify the State Oil Fund of the Republic of Azerbaijan’s (Sofaz) portfolio through exposure to income-generating infrastructure assets.

AGPA, a subsidiary of Abu Dhabi National Oil Company (Adnoc), has usage rights over the gas pipeline, which links the country’s upstream energy-producing assets and local off-takers.

Adnoc Gas rules out project delays and sticks to capex plan

Adnoc bets big on petrochems as sector struggles

Adnoc gas deal fires up UAE-Azerbaijan ties

Spanning 982 km, the AGPA network comprises 38 pipelines, including 12 dedicated to sales gas, 15 for gas injection and 11 for natural gas liquids.

In January Lunate, the alternative investment manager with $110 billion in assets under management, purchased a minority stake in Adnoc Gas Pipelines.

It bought a 40 percent stake in Adnoc’s oil pipelines set-up previously owned by BlackRock and KKR last year.

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