Adnoc Is Said to Kick Off $5 Billion Gas Pipeline Lease Deal - Bloomberg

Adnoc Is Said to Kick Off $5 Billion Gas Pipeline Lease Deal - Bloomberg:

Abu Dhabi’s government-owned energy giant has kicked off the potential sale of a stake in its natural gas pipelines, in a deal that could fetch about $5 billion, people with knowledge of the matter said.

Abu Dhabi National Oil Co., producer of about a tenth of OPEC’s oil, is seeking to bring in outside investors to take a minority interest in the gas pipeline network, according to the people. It has started a formal process and sent information on the assets to potential bidders, the people said, asking not to be identified because the information is private.

The sale is likely to draw interest from infrastructure funds and private equity firms, the people said. Adnoc, as the company is known, aims to reach an agreement in the first half of next year, the people said.