Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

RPT-Antin Infrastructure hires banks to sell UK gas pipeline

Wed, 04th Sep 2019 12:55

By Clara Denina and Shadia Nasralla

LONDON/Aberdeen, Scotland, Sept 4 (Reuters) - AntinInfrastructure Partners has hired investment banks to kick-starta potential $1.5 billion-plus sale of one of Britain's biggestgas pipelines, banking sources and an executive at a subsidiaryof the buyout fund said.

The sale of Central Area Transmission System (CATS), a250-mile pipeline that transports gas from a cluster of NorthSea fields to Teesside in northern England, is expected over thenext 12 months with the help of Bank of America-Merrill Lynchand Citi, Andy Hessel, managing director at KellasMidstream, told Reuters.

Kellas Midstream is the Antin subsidiary that manages CATS,which banking sources said could fetch more than $1.5 billion.

Antin, a private equity fund that mostly specialises inEuropean energy, transport and telecoms investments, bought CATSfrom gas producer BG, now part of Royal Dutch Shell,and BP between 2014 and 2015. It owns 99% of thebusiness, with Italy's Eni and U.S. ConocoPhillipssharing the remaining 1%.

An infrastructure project that was only second in size tothe Channel Tunnel when it was built in the early 1990s, CATStransports about 10% of Britain's annual gas production.

Private equity investors and pension funds have beenattracted by midstream infrastructure assets because of thepotential for steady cash flow through long-term contracts,helping to limit risk when crude prices tumble.

The North Sea offshore basin has undergone a broad change ofguard in recent years as low oil prices prompted major oil andgas companies to sell assets to private equity-backed investorsand specialist operators.

Producers including Neptune Energy, backed by Carlyle Groupand CVC Capital Partners, have raised billions of dollarsto snap up assets from which they believe more oil and gas canbe squeezed

Antin's energy portfolio also includes stakes in solarplants in Spain and an interest in northern French midstream oilcompany Pisto.(Editing by David Goodman)

More News
30 Nov 2021 17:33

UPDATE 4-U.S. security review stalls sale of Shell Texas refinery to Mexico's Pemex

(Adds comment from Pemex source)By Erwin SebaHOUSTON, Nov 30 (Reuters) - A U.S. national security review has delayed the sale of Royal Dutch Shell's controlling interest in a Texas refinery to Mexico's national oil company, Petroleos Mexicanos (Pe...

Read more
30 Nov 2021 17:33

UPDATE 1-Shell Deer Park, Texas, refinery sale delayed pending regulator's approval

(Adds details, background)HOUSTON, Nov 30 (Reuters) - The sale of Royal Dutch Shell's controlling interest in the joint-venture Deer Park, Texas, refinery to partner Petroleos Mexicanos (Pemex) has been delayed pending approval by the Committee on...

Read more
30 Nov 2021 17:33

UPDATE 2-National security review stalls sale of Shell U.S. refinery to Mexican state oil firm

(Changes headline, recasts lead, adds no Pemex immediate comment, CFIUS declined to comment, remarks by U.S. representative)By Erwin SebaHOUSTON, Nov 30 (Reuters) - A national security review has delayed the sale of Royal Dutch Shell's controlling...

Read more
30 Nov 2021 16:51

Shell Deer Park Texas refinery saie delayed pending CFIUS approval -company

HOUSTON, Nov 30 (Reuters) - Royal Dutch Shell Plc said on Tuesday a delay in approval from the federal Committee on Foreign Investment in the United States (CFIUS) has delayed the sale of its controlling interest in a joint-venture refinery in De...

Read more
30 Nov 2021 16:03

Date for sale of Shell Deer Park, Texas refinery to Pemex pushed back -source

HOUSTON, Nov 30 (Reuters) - The date for closing the sale of Royal Dutch Shell Plc's controlling interest in the joint-venture Deer Park, Texas, refinery to partner Petroleos Mexicanos (Pemex) has been pushed back until the deal receives federal ...

Read more
30 Nov 2021 11:52

Oil firms face workforce crunch as renewables beckon -survey

By Ron BoussoLONDON, Nov 30 (Reuters) - The oil and gas industry risks a huge workforce shortage as more than half of workers in the sector seek to move into the renewable energy industry, a survey published on Tuesday showed.The survey conducted ...

Read more
30 Nov 2021 09:35

Kremlin: new gas transit deal talks with Ukraine hinge on gas demand in Europe

MOSCOW, Nov 30 (Reuters) - Talks on new gas transit deal with Ukraine depend on demand for the Russian gas in Europe and availability of buyers, Dmitry Peskov, Kremlin spokesman, told reporters on Tuesday.The current transit deal expires after 202...

Read more
30 Nov 2021 09:01

LONDON MARKET OPEN: Stocks resume slide as Omicron optimism flounders

LONDON MARKET OPEN: Stocks resume slide as Omicron optimism flounders

Read more
29 Nov 2021 17:03

LONDON MARKET CLOSE: Stocks attempt to rebound from Omicron rout

LONDON MARKET CLOSE: Stocks attempt to rebound from Omicron rout

Read more
29 Nov 2021 12:18

LONDON MARKET MIDDAY: FTSE 100 bounces 80 points as Omicron fears ease

LONDON MARKET MIDDAY: FTSE 100 bounces 80 points as Omicron fears ease

Read more
29 Nov 2021 09:53

UPDATE 2-FTSE 100 rises after Friday's rout, BT Group jumps on M&A report

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)* Carnival, Wizz Air regain ground* Amigo slumps on plans for equity raise* FTSE 100 up 0.9%, FTSE 250 adds 1.0% (Updates to close)By Bansar...

Read more
29 Nov 2021 08:51

LONDON MARKET OPEN: FTSE 100 rebounds but Omicron uncertainty lingers

LONDON MARKET OPEN: FTSE 100 rebounds but Omicron uncertainty lingers

Read more
26 Nov 2021 17:05

LONDON MARKET CLOSE: Dark mood on Black Friday as variant fears bite

LONDON MARKET CLOSE: Dark mood on Black Friday as variant fears bite

Read more
26 Nov 2021 12:11

LONDON MARKET MIDDAY: Red Friday amid fear of new Covid strain

LONDON MARKET MIDDAY: Red Friday amid fear of new Covid strain

Read more
26 Nov 2021 10:09

ISS recommends shareholders support Shell move to UK

LONDON, Nov 26 (Reuters) - Proxy advisory firm Institutional Shareholder Service (ISS) recommended shareholders support Royal Dutch Shell's plan to move its head office from the Netherlands to Britain, according to a document seen by Reuters.Shell...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.