A record $20.7 billion offered for Adnoc's midstream pipeline assets

PIPELINE TECHNOLOGY JOURNAL | "You can't have your cake and eat it too," goes the old English adage.  Yet with a record consortium offer of $20.7 billion for the lucrative midstream pipeline assets of the Abu Dhabi National Oil Company (Adnoc), the Emiratis can be pardoned for believing you can.  The multibillion dollar transaction allows Adnoc to "tap new pools of global institutional investment capital”, while retaining full operating control over the assets with 51 % hold, the company said.

Brookfield Asset Management, Singapore’s sovereign wealth fund GIC, Ontario Teachers’ Pension Plan Board, South Korea's NH Investment & Securities and Italy’s Snam comprise the consortium.  It maintains that it benefits from investing in quality infrastructure "with a low risk profile" and steady cash flow generation.

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