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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.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported.
Türkiye’s benchmark stock index, the BIST 100, closed Tuesday at 10,814.11 points, up 0.74% from the previous session.
Euro zone finance ministers are set to meet on Thursday to explore ways to boost the development of euro-denominated stablecoins, amid concerns that the fast-growing market could remain dominated by the United States, a senior euro zone official said.
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