BG Group to sell interest in CATS pipeline for $954 million

BG Group has agreed to sale its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea along with associated infrastructure to Antin Infrastructure Partners SAS, Paris, for total proceeds of as much as $954 million.

According to the deal, which is expected to close in this year’s second half, BG will sell 62.78% interest in CATS for a consideration of $888 million on completion of the transaction and a deferred amount of $66 million. BG says the sale does not impact the company’s rights to capacity in CATS.

CATS is comprised of a fixed-riser platform linked to the Everest oil and gas platform, a 404-km, 1.7-bscfd capacity subsea pipeline, and a two-train, 1.2-bscfd capacity onshore gas processing terminal at Teesside.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...