Global investment firm KKR has extended its relationship with Abu Dhabi National Oil Company (ADNOC) through the acquisition of a minority interest in the state-owned company’s gas pipeline assets.
KKR has invested an unspecified amount to buy the stake in ADNOC Gas Pipeline Assets, building on the firms’ partnership in 2019 to establish ADNOC Oil Pipelines.
ADNOC will continue to own and operate the gas pipeline network, which links its upstream assets to local off-takers throughout the UAE.
David Petraeus, partner at KKR, chairman of the KKR global institute, and chairman of KKR Middle East, said: “We are pleased to expand our strategic partnership with ADNOC and to invest further in Abu Dhabi’s long-term prosperity and critical infrastructure.
“This investment reflects KKR’s commitment to expand partnerships and investment across the Middle East. The region’s strong fundamentals, bold vision, and focused leadership offer increasingly attractive opportunities for global investors.”
Cristina González, managing director of infrastructure at KKR, said: “KKR has a long history of owning and operating critical national infrastructure worldwide, collaborating closely with governments.
“This strategic partnership leverages KKR’s expertise in infrastructure investments and ADNOC’s operational excellence to deliver practical energy solutions. This investment in ADNOC Gas Pipeline Assets provides access to high-quality, long-dated yield alongside an outstanding partner in ADNOC.”
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