TAQA set to exit North Sea gas transport system

TAQA has agreed to sell its stake in one of the Dutch North Sea gas trunklines to the Danish pension fund PensionDanmark.

Offshore staff

ABU DHABI, UAE – TAQA has agreed to sell its stake in one of the Dutch North Sea gas trunklines to the Danish pension fund PensionDanmark.

TheNoordgastransport (NGT) pipeline, operated by GDF Suez E&P, is 470 km (292 mi) long with a throughput capacity of around 42 MMcm/d (1.48 bcf/d). TAQA acquired its 40% interest in 2009 from Royal DSM N.V.

David Cook, TAQA’s executive officer and head of oil and gas, said: “We decided that the investment in theNoordgastransport pipeline no longer fitted with our growth strategy in the Netherlands, which is focused on maximizing the value of our portfolio and delivering Gas Storage Bergermeer.”

The latter, the company claims, will be Europe’s largest open-access gas storage facility when it reaches full capacity in 2015.

11/11/2013

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