CapeOmega Buys out DEA Interests in Gassled

CapeOmega announced December 18 it entered into a sales and purchase agreement with Russian-owned DEA 30 November 2017 to buy its interest in Norwegian subsea gas pipelines owner Gassled.

The interest comprises: a 4.791% stake in Polarled, the 482-km  dry gas pipeline from Aasta Hansteen field to the onshore Nyhamna plant; a 1.0649% interest in the Nyhamna plant itself; and a 0.081% interest in Norwegian subsea pipelines owner Gassled which has export routes to the UK and continental Europe (including 0.03946% in Zeepipe terminal and 0.05234% in the Dunkerque terminal, in Belgium and France respectively). Norwegian state Gassco operates the facilities.

The effective date of the transaction is January 1 and needs the approval of the Norwegian petroleum and finance ministries.

Neither DEA, which announced the transaction December 15, nor CapeOmega said anything about transaction value.

Infrastructure investor CapeOmega already had a 3.199 % stake in Gassled.