On Thursday, August 27th, 2015; and in relevance to Oil and Gas production and markets, the reports are that the United States of America based ArcLight Capital through its affiliate in the United Kingdom has purchased for ₤585 Miliion/$907 Million gas and gas pipeline assets from an oil company based in France. The assets are in the UK’s North Sea region. The ArcLight affiliate is named North Sea Midstream Partners Limited (NSMP). Their offices are in London on 42 Brook Street.
Some quick facts on the sale are;
• ₤585 Miliion/$907 Million Purchase
• The sale is to include Frigg UK(FUKA)
• The sale is to include SIRGE gas pipelines
• The sale is to include the St. Fergus Gas Terminal
On its website, NSMP Limited states that the business “focuses on the ownership and commercial development of large scale midstream oil and gas infrastructure assets in and around the North Sea.” In relation to the Oil and Gas markets, NSMP Limited states that it has the capabilities for onshore gas processing facilities. That they also have; offshore and onshore pipelines and gathering hubs along with onshore oil/NGL processing and storage.
In the Oil and Gas markets, Total; which is based out of France, is considered the second largest oil company in Europe. Early reports speculate that this is part of a strategy to sell some assets early in the year and then try to become the UK’s largest Oil and Gas producer later in the year. The last phase is to be marked with the Laggan-Tormore Project in the Shetlands. There are some reports that Total held telephone news conference with a select group of reporters. In these telephone news conferences, it is believed, that Total outlined its strategy.