About Galaxy Pipelines
In July 2020, Galaxy Pipeline Assets Bidco Limited (“Galaxy Pipelines”) acquired a 47.7% stake in ADNOC Gas Pipeline Assets LLC (“AssetCo”) from Abu Dhabi National Oil Company (ADNOC). AssetCo holds a lease until 2040 to 38 of the natural gas and natural gas liquids pipelines serving ADNOC producing fields in the United Arab Emirates.
The transaction valued AssetCo at US$20.7bn.
This pipeline network is critical infrastructure for the Emirate of Abu Dhabi and the UAE as well as providing an essential service to the Emirate’s economy and gas industry plan, playing a key role in delivering its 2030 economic vision.
The pipelines connect the world’s 7th largest gas reserves to the UAE’s power generation plants and local industries as well as facilitating gas reinjections.