BG Group Sells Interest in CATS Pipeline

The UK's BG Group announced Tuesday that it has agreed to sell its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea, along with its associated infrastructure, for $954 million to Antin Infrastructure Partners.

The deal will see BG Group sell its 62.78-percent stake in CATS for $888 million on completion of the transaction with the $66 million balance being deferred.

CATS comprises: a fixed-riser platform linked to the Everest oil and gas platform; a 250-mile, 1,700 million-cubic-feet-of-gas-per-day capacity subsea pipeline; and a two-train onshore gas-processing terminal at Teesside that has a capacity of 1.2 billion cubic feet per day.

The transaction is expected to be completed during the second half of 2014.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aberdeen Firm to Hire More Staff in 20... (Mar 30)
 -  CGG, KGOC Teams to Work Together on In... (Mar 30)
 -  Aker Solutions Reduces Total Headcount... (Mar 30)
 -  First Workers Complete New Industry Tr... (Mar 29)
 -  Mexico, UK Strengthen Ties with 5-Day ... (Mar 29)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Business Analyst
Expertise: Project Management
Location: Houston, TX
 
Sr. Piping Designer
Expertise: Design Engineer|Refinery Specialist
Location: Houston, TX
 
Petroleum Inspector Trainee - Saybolt
Expertise: Field Service Tech|Marine Surveying|Surveying
Location: Deer Park, TX
 
search for more jobs

Brent Crude Oil : $52.42/BBL 2.12%
Light Crude Oil : $49.51/BBL 2.35%
Natural Gas : $3.17/MMBtu 2.25%
Updated in last 24 hours