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3w ago

KKR Buys Minority Stake in ADNOC Gas Pipeline Assets

The deal uses managed accounts to match long-term capital with stable pipeline revenues.

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The pipeline ownership and operational management will remain with Adnoc, KKR said. Photo: Adnoc
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Overview

  • ADNOC will retain ownership and operational control of the gas pipeline network following KKR’s investment.
  • KKR and ADNOC did not disclose the deal value or the exact size of the minority stake.
  • KKR said the stake was acquired through managed accounts designed to deliver long-duration income.
  • The ADNOC unit is reported to operate 38 gas pipelines and two export terminals across the UAE.
  • The investment builds on KKR’s regional push, including a 2019 ADNOC pipelines deal with BlackRock and a 2025 stake in Gulf Data Hub, as David Petraeus chairs its Middle East operations.