CapeOmega closes Njord Gas Infrastructure deal

CapeOmega, a HitecVision-owned oil and gas company, has completed the acquisition of Njord Gas Infrastructure Holding AS, a Norwegian company whose purpose is to own and operate its participating interest of 8.036% in Gassled. 

Gassled is a joint venture between infrastructure and petroleum companies on the Norwegian continental shelf that serves as the formal owner of the Norwegian gas transmission infrastructure. It is the world’s largest offshore gas transmission system that runs from fields on the Norwegian continental shelf to continental Europe and the United Kingdom.

The owners of Njord Gas Infrastructure Holding AS, UBS International Infrastructure Fund Holding Coöperatie UA and Caisse des Dépôts et Consignations, agreed to sell 100% of the shares in Njord Gas Infrastructure Holding AS to CapeOmega in late October.

The closing of the deal was subject to approval by the Ministry of Petroleum and Energy, Ministry of Finance, and the Norwegian Competition Authority.

Njord Gas Infrastructure said on Wednesday that the deal had been closed under the condition set by the Ministry of Petroleum and Energy that the company and CapeOmega consolidate.

CapeOmega is headquartered in Bergen, Norway and invests in Norwegian oil and gas infrastructure and production assets. The company also recently bought DEA’s ownership in the Nyhamna onshore gas processing plant, the Polarled gas pipeline, and Gassled.

Gassled has total gas export capacity into continental Europe and the United Kingdom of 369 million cubic meters per day and, in 2013, delivered 102,5 billion cubic meters of natural gas, about 20% of overall European demand.

The Norwegian government-owned Gassco operates the Gassled system as an independent transmission system operator.

Offshore Energy Today Staff

Related news

List of related news articles