The State Oil Fund of the Republic of Azerbaijan (SOFAZ) is investing $50mn in Adnoc Gas Pipeline Assets (AGPA), which has lease rights from Adnoc for 38 pipelines covering 982km, connecting Adnoc’s upstream assets with domestic offtakers. Sofaz is investing in AGPA through a specialized investment fund managed by Abu Dhabi investment fund Lunate. Lunate itself announced in January that it had agreed to buy an effective stake of 5.87% in the midstream entity from Italian pipeline operator Snam (MEES, 31 January).
Farhaz Zeynalov, Chief Investment Officer at SOFAZ says “We are delighted with the opportunity to partner with Lunate on this transaction, which marks a significant step in advancing SOFAZ’s investment footprint across the GCC region.” (CONTINUED - 177 WORDS)