Antin set to succeed BP as operator of UK North Sea CATS trunkline

BP has agreed to sell its operating interest in the Central Area Transmission System (CATS) gas trunkline system in the UK North Sea to Antin Infrastructure Partners in a deal valued at $486 million.

Offshore staff

ABERDEEN, UK ā€“ BP has agreed to sell its operating interest in the Central Area Transmission System (CATS) gas trunkline system in the UK North Sea to Antin Infrastructure Partners in a deal valued at $486 million.

The sale will be as a fully operational business, with staff expected to transfer to the new employer.

Subject to the receipt of regulatory and other third-party approvals, BP aims to complete the transaction before the end of this year.

The sale does not impact BPā€™s rights to capacity in CATS.

04/23/2015

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