HitecVision boosts share in Norwegian gas pipeline system Gassled
Norwegian investment firm HitecVision has increased its ownership in the Norwegian offshore gas pipeline system Gassled through the acquisition of Solveig Gas Holdco. The Norwegian media have estimated the purchase price is over $1 billion.
Solveig Gas owns a 25.6 percent share in Gassled, a gas pipeline carrying gas from the Norwegian shelf to the European customers. HitecVision already owns a share in Gassled, as its subsidiary CapeOmega owns 16.3 percent.
Petoro AS, the licensee for the Norwegian state’s direct financial interest in petroleum activities, owns the largest share in Gassled with a 46.69 percent share. Other partners are Silex Gas Norway and Equinor.
The sale of Solveig Gas to HitecVision is subject to the approval of the Norwegian Ministry of Petroleum and Energy, the Norwegian Ministry of Finance and the Norwegian Competition Authority.
HitecVision did not share the financial details about the acquisition, however, the Norwegian financial news website DN.no has estimated the value of the deal to be between NOK 10 and NOK 12 billion ($1,16 billion – $1,4 billion).
Offshore Energy Today Staff
Spotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email.
Offshore Energy Today, established in 2010, is read by over 10,000 industry professionals daily. We had nearly 9 million page views in 2018, with 2.4 million new users. This makes us one of the world’s most attractive online platforms in the space of offshore oil and gas and allows our partners to get maximum exposure for their online campaigns.
If you’re interested in showcasing your company, product or technology on Offshore Energy Today contact our marketing manager Mirza Duran for advertising options.