Abu Dhabi: The State Oil Fund of the Republic of Azerbaijan (‘SOFAZ’) and Lunate Capital (‘Lunate’), an Abu Dhabi-based global alternative investment manager, today announced that SOFAZ has invested USD 50 million in ADNOC Gas Pipeline Assets LLC (‘AGPA’), through a specialized investment fund managed by Lunate, APA-Economics reports citing the Fund.
According to Azeri-Press News Agency, the investment in AGPA aligns with SOFAZ’s strategy to diversify its portfolio through exposure to resilient, income-generating infrastructure assets and reflects its commitment to deepening its economic engagement with the GCC region. The transaction leverages Lunate’s deal sourcing capabilities and deep investment expertise, which enable it to deliver compelling private market opportunities for its clients.
AGPA possesses usage rights over one of the United Arab Emirates’ (UAE) most critical energy assets, supporting the UAE’s energy ecosystem by ensuring the efficient and secure transportation of natural gas resources across the country. The gas pipeline infrastructure network is subject to a long-term usage agreement between AGPA and ADNOC, providing strong visibility over cash flows backed by committed volumes. AGPA has consistently delivered stable operational performance and predictable income, even during periods of global energy market volatility. Spanning 982 kilometers, the APGA network comprises 38 pipelines, including 12 dedicated to sales gas, 15 for gas injection, and 11 for natural gas liquids.
Farhad Zeynalov, Chief Investment Officer at SOFAZ, noted that AGPA stands out as a high-quality, strategically vital infrastructure platform with long-term relevance and strong income-generating potential. He expressed delight at the opportunity to partner with Lunate on this transaction, marking a significant step in advancing SOFAZ’s investment footprint across the GCC region and aligning with its broader vision of building a resilient and diversified portfolio.
Nabeel Qadir, Senior Partner at Lunate, expressed excitement about providing SOFAZ the opportunity to invest in ADNOC Gas pipelines, a critical asset in the UAE’s energy infrastructure, offering highly attractive, risk-adjusted returns. He noted that this transaction demonstrates Lunate’s ability to deliver customized solutions for clients and partners, through unique access to global and UAE-specific investment opportunities.