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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has invested $50m in ADNOC Gas Pipeline Assets (AGPA) through a specialised investment fund managed by Abu Dhabi-based alternative investment firm Lunate Capital, the parties said in a joint statement on Thursday.
The transaction supports SOFAZ’s strategy to diversify its portfolio and deepen economic engagement with the Gulf Cooperation Council (GCC), specifically by gaining exposure to resilient, income-generating infrastructure assets.
ADNOC Gas Pipeline Assets holds usage rights over one of the UAE’s most critical energy assets.
ADNOC Gas Pipeline Assets investment holds strategic importance
The network spans 982 kilometres and includes 38 pipelines — 12 dedicated to sales gas, 15 for gas injection, and 11 for natural gas liquids.
It is governed by a long-term usage agreement with ADNOC, ensuring strong visibility over cash flows backed by committed volumes.
The asset has consistently delivered stable operational performance and predictable income, even during periods of global energy market volatility, according to the companies.
“AGPA stands out as a high-quality, strategically vital infrastructure platform with long-term relevance and strong income-generating potential,” said Farhad Zeynalov, CIO at SOFAZ. “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.”
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 customised solutions for our clients and partners, through unique access to global and UAE-specific investment opportunities.”
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