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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested $50 million in ADNOC Gas Pipeline Assets LLC (AGPA), a subsidiary of the Abu Dhabi National Oil Company (ADNOC), which manages the gas pipeline network in the United Arab Emirates.
SOFAZ made the investment in AGPA through a specialized infrastructure fund managed by Lunate Capital, an Abu Dhabi-based alternative investment manager.
According to SOFAZ’s press service, the investment aligns with the fund’s strategy to diversify its portfolio through investments in sustainable and profitable infrastructure assets. It also supports SOFAZ’s objective to strengthen economic ties with the Gulf Cooperation Council (GCC) region.
"AGPA represents a high-quality, strategically important infrastructure asset with strong long-term return potential. We are pleased to partner with Lunate and welcome this investment opportunity that expands our presence in the Gulf region," Farhad Zeynalov, the head of SOFAZ's Investment Department, said in the statement.
AGPA manages a 982-kilometer pipeline network that includes 38 pipelines: 12 dedicated to commercial gas transportation, 15 for gas injection, and 11 for liquefied gas transport.
ADNOC Gas Pipeline Assets is regarded as one of the UAE’s most critical energy infrastructure facilities, playing a vital role in the country’s sustainable energy ecosystem. A long-term operating agreement between AGPA and ADNOC ensures stable and predictable revenue based on established gas transportation volumes.
Nabeel Qadir, Senior Partner at Lunate said “We are excited to provide SOFAZ the opportunity to invest in ADNOC Gas pipelines, a critical asset in the UAE’s energy infrastructure, offering highly attractive, risk-adjusted returns. This transaction demonstrates Lunate’s ability to deliver customized solutions for our clients and partners, through unique access to global and UAE-specific investment opportunities."
"Even during periods of volatility in global energy markets, AGPA has maintained strong financial and operational performance," the press service noted.
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Malaysia Prime Minister Anwar Ibrahim said he intends to convene a summit of the Regional Comprehensive Economic Partnership in October, local media reported on Wednesday.
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