A key North Sea gas pipeline may be put up for sale, it was reported yesterday.
The Sunday Telegraph said Antin Infrastructure Partners was mulling the sale of the Central Area Transmission System (Cats) pipeline system, which it has owned for nearly five years, and other infrastructure assets held by its Kellas Midstream business.
Together, these assets are believed to be worth billions of pounds.
They have reportedly already attracted potential buyers, while yesterday’s report said Antin was considering launching a formal
sale process later this year.
Antin snapped up a 62.78% stake in Cats from BG Group in a £562 million deal in 2014.
In early 2015, BP sold its 36.22% stake in the pipeline system to Antin for £324m.
Aberdeen-based Kellas now manages Antin’s 99% interest in Cats – a 251-mile subsea pipeline connecting 34 producing fields and an onshore gas processing terminal on
Teesside – and the infrastructure investor’s 65% stake in a 102-mile pipeline known as the Esmond Transportation System.
Kellas is also at the heart of an infrastructure partnership to support the development of the Tolmount field in the southern North Sea.
Recommended for you
