Private-equity firm HitecVision AS has agreed to acquire 100% of the shares in Solveig Gas Norway AS, the second largest owner of Norway's offshore gas pipeline system, the company said April 2.
Solveig Gas owns 25.6% in the Gassled joint venture, which owns a majority of offshore pipelines that transport natural gas from the Norwegian Continental Shelf to customers in Europe.
HitecVision said the owners of Solveig Gas—Canada Pension Plan Investment Board, Infinity Investments SA (a wholly-owned subsidiary of the Abu Dhabi Investment Authority) and Allianz Capital Partners—have agreed to sell their stakes to a portfolio company of HitecVision.
The transaction has an effective date of Jan. 1, and is pending government and competition authority approvals.
HitecVision did not give the deal's value.
Norway's state-owned Petoro AS is the largest owner in Gassled with a 46.7% stake.
Recommended Reading
No Drivers Necessary: Atlas RoboTrucks Haul Proppant, Sans Humans
2025-03-04 - Atlas Energy Solutions and Kodiak Robotics have teamed up to put two autonomous trucks to work in the Permian Basin. Many more are on the way.
E&P Highlights: March 3, 2025
2025-03-03 - Here’s a roundup of the latest E&P headlines, from planned Kolibri wells in Oklahoma to a discovery in the Barents Sea.
Halliburton, Sekal Partner on World’s First Automated On-Bottom Drilling System
2025-02-26 - Halliburton Co. and Sekal AS delivered the well for Equinor on the Norwegian Continental Shelf.
Diamondback in Talks to Build Permian NatGas Power for Data Centers
2025-02-26 - With ample gas production and surface acreage, Diamondback Energy is working to lure power producers and data center builders into the Permian Basin.
Iveda Deploys New Liquid Storage Management Solution for Gulf Western Oil
2025-02-26 - IoT servicer Iveda’s LevelNOW system uses sensors to deliver real-time information about tank levels.