Royal Dutch Shell is selling its stake in Norway’s gas transport joint venture Gassled, Financial Times reports. Infragas Norge, a unit of Canada’s Public Sector Pension Investment Board, will pay $722 million for a 5 percent stake, adds Bloomberg.
The transaction also includes the sale of its 3.3 percent stake in Dunkerque Terminal and 2.5 percent in Zeepipe Terminal. Shell is looking to close the sale in the fourth quarter. Gassled, a venture created in 2003 between energy companies operating offshore Norway, owns the transport facilities of the world’s second-biggest gas exporter.
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