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.
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