Analysts have stated that the recent acquisition of a U.S. firm owning a natural gas pipeline by the United Arab Emirates underscores the nation’s commitment to enhancing its foreign energy investments. The Abu Dhabi-based company, Two Point Zero, confirmed its takeover of Traverse Midstream Partners in Oklahoma through its subsidiary E Point Zero for $2.3 billion. Two Point Zero is a part of the International Holding Company (IHC).
Christian Koch Ulrichsen, a Middle East analyst at Rice University’s Baker Institute in Texas, noted that the UAE is continuing its operations as usual. He added that investing in foreign energy assets, particularly in the U.S., is attractive due to its contribution to diversifying investment portfolios over the long term, as reported by Arabian Gulf Business.
The IHC has been collaborating with American counterparts to bolster joint investments. In January, it announced its partnership with the U.S. International Development Finance Corporation, focusing on sectors of “mutual strategic interest,” such as vital minerals, energy, and logistics in “high-growth” markets.
A spokesperson for IHC revealed in mid-March that the company has been actively investing and collaborating in the U.S. for several years, establishing strong relationships across various strategic sectors.
Meanwhile, XRG, the global investment arm of ADNOC, has finalized the restructuring of its joint venture in the chemicals sector, known as Borealis International Group, in partnership with the Austrian company OMV.
XRG is an initiative launched by ADNOC 18 months ago to consolidate and manage foreign investments in liquefied natural gas, chemicals, and low-carbon energy production, primarily focusing on the U.S., Europe, and Latin America so far.