A valve assembly comprises a hot stab and a complementary connection block. The hot stab and the connection block are each provided with a pressure balanced rotating sleeve. When the hot stab is disconnected from the connection block, the rotating sleeve is in a closed position and fluid is not allowed to flow through the :hot stab. The rotating sleeve of the connection block is also in a closed position such that fluid is not allowed to flow through the connection block. The hot stab may be connected and disconnected to the connection block without reducing the fluid pressure.