Six companies purchased a 49 per cent combined stake in the state-owned ADNOC Gas Pipeline Assets, which will have lease rights to 38 pipelines. (The Logic)

Talking point: This is the largest energy infrastructure deal of 2020. It comes as oil prices are starting to rise, with U.S. crude above US$40 for the first time since March. However, both Brookfield and Ontario Teachers’ described this as a long-term investment. “This strategic transaction is attractive to Ontario Teachers’ as it provides us with a stake in a high-quality infrastructure asset with stable long-term cash flows, which will help us deliver on our pension promise,” said the pension’s chief investment officer Ziad Hindo. Shift Action, an environmental group, criticized the move, saying Teachers’ is “putting the hard-earned retirement savings of thousands of working and retired teachers at risk by investing in a massive piece of fossil fuel infrastructure in the midst of a worsening climate crisis and a volatile disruption to global energy markets.”