We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 10 Nov 2013 12:14 PM

Font Size

- Aa +

Abu Dhabi's TAQA sells Dutch pipeline stake for $240m

Sale of stake in Noordgastransport to pension fund PensionDanmark is expected to close by 2013

Abu Dhabi's TAQA sells Dutch pipeline stake for $240m
(Photo for illustrative purposes only)

Abu Dhabi National Energy Co (TAQA) has agreed to sell its 40 percent stake in a Dutch natural gas pipeline to a Danish pension fund for $240 million, the state-owned Gulf firm said in a statement on Sunday.

The sale the stake in Noordgastransport (NGT) to pension fund PensionDanmark A/S is expected to close by 2013, TAQA said.

NGT consists of about 470 kilometres (295 miles) of offshore pipeline with a daily gas capacity of around 42 million cubic metres, the statement said. TAQA bought the stake in the pipleline, operated by GDF Suez, from Royal DSM in 2009.

Arabian Business digital magazine: read the latest edition online

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.