GDF SUEZ becomes majority shareholder on Nogat B.V.

abarrelfullabarrelfull wrote on 07 Dec 2010 13:24
Tags: gas gdf-suez netherlands nogat pipeline

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GDF SUEZ has significantly increased its ownership in Northern Offshore Gas Transport B.V. (NOGAT) in the Netherlands bringing its total equity to 48.2% and thereby becoming the largest shareholder of NOGAT.

NOGAT B.V. transports gas produced offshore from the Dutch continental shelf, from Denmark and from Germany through its 264-kilometer long, fully owned offshore gas pipeline system to its treatment station in Den Helder, The Netherlands. The total capacity of the NOGAT pipeline and gas treatment station amounts to 12 billion cubic meters per year, and operations are run by GDF SUEZ E&P Nederland B.V.

GDF SUEZ first became shareholder in NOGAT B.V. at the end of 2008, when it acquired a package of assets situated along the NOGAT pipeline, including at the time a 30% participation in NOGAT. The Group has now acquired an additional 18.2% share from Total E&P Nederland B.V.

In the Netherlands, GDF SUEZ is also operating the Noordgastransport (NGT) pipeline system. The NOGAT and NGT pipelines capacity represents approximately half of the Dutch gas consumption.

Ruud Zoon, Managing Director of GDF SUEZ E&P Nederland B.V. states: “By further investing in NOGAT, GDF SUEZ confirms its commitment to the Dutch offshore gas industry, and the increased ownership illustrates that the company intends to continue to further build on its strong position as one of the leading exploration, production and gas transportation companies in the Netherlands”.

Shareholders in NOGAT B.V. are GDF SUEZ with 48.2%, Energie Beheer Nederland B.V. with 45.0%, Total E&P Nederland B.V. with 5.0% and Venture Production Nederland B.V. with 1.8%.

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