BP to Sell CATS Business To Antin Infrastructure
BP today announced it has agreed to sell its equity in the Central Area Transmission System (CATS) business in the UK North Sea to Antin Infrastructure Partners for £324 million ($486 million). BP is currently the operator of CATS. The agreement comprises a payment on completion of £302 million ($453 million) and a deferred amount of £22 million ($33 million), subject to certain post-closing adjustments. Trevor Garlick, Regional President BP North Sea said: “The North Sea is an important region for BP. Our strategy here is to focus our resources and
CATS Pipeline & Infrastructure Sold for $954m
BG Group agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to $954 million. Under the agreement, BG Group will sell its 62.78% interest in CATS for a consideration comprising $888 million on completion of the transaction and a deferred amount of $66 million. The sale does not impact BG Group's rights to capacity in CATS. CATS comprises a fixed-riser platform linked to the Everest oil and gas platform, a 404-kilometre, 1 700 million-st
BG to Sell its Interest in CATS Pipeline
BG Group today announced it had agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the U.K. North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to £562 million, or approximately $954 million at current exchange rates. Under the agreement, BG Group will sell its 62.78% interest in CATS for a consideration comprising £523 million (approximately $888 million) on completion of the transaction and a deferred amount of £39 million (approximately $66 million). The sale does not impact BG
February 2024
