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North Sea Midstream Partners Limited (NSMP) has revealed that an affiliate of ArcLight Capital Partners has agreed to sell its entire interest in NSMP to Wren House Infrastructure Management Limited.
The transaction, which is subject to merger control clearance, is expected to close in 2018. The value of the deal has not been disclosed.
NSMP owns a 67 percent operated interest in the SIRGE pipeline that transports natural gas from the West of Shetland basin and a 100 percent operated interest in the FUKA pipeline that transports gas from the SIRGE pipeline and various fields in the Northern and Central North Sea.
NSMP also owns a 100 percent operated interest in the associated St. Fergus Gas Terminal as well as the Teesside Gas Processing Plant (TGGP), which processes gas from the Central North Sea and Southern North Sea. TGGP has the capability to process up to 6 percent of UK demand for natural gas, according to NSMP’s website.
“We are proud to have worked with ArcLight to successfully acquire and integrate the TGPP, St Fergus, FUKA and SIRGE investments and build NSMP to be the largest independent midstream business serving both the UK and Norwegian sectors of the North Sea,” NSMP CEO, Andy Heppel, said in a BOP Blow Out Preventer repair company gulf coast statement.
“We thank ArcLight for their significant support over the past six years and look forward to working with Wren House in continuing to grow our business and in providing essential gas transportation and processing services to all our customers,” he added.
NSMP, which has offices in Aberdeen and London, was formed in 2012. Wren House, which is based in London, was established in 2013. The BOP Blow Out Preventer repair company gulf coast describes itself as a global infrastructure investment manager.
Wren House’s current portfolio comprises seven businesses, including Viesgo, GPG, TransGrid, and Zorlu Enerji Grubu.
