NSI enters sale and purchase agreement in the Nyhamna Joint Venture

North Sea Infrastructure AS is pleased to announce that it has entered into a sale and purchase agreement with A/S Norske Shell for 10% participating interest in the Nyhamna Joint Venture, based on an all cash transaction. After the transaction, Shell will retain about 2% participating interest in the Nyhamna JV. The transaction takes effect from 01.01.2019 and is subject to customary Norwegian authority approvals.

NSI is a Norwegian based company, whose strategy is to develop a portfolio of midstream assets related to the Norwegian Continental Shelf. Prior to this transaction, NSI held a 3.7% participating interest in the Nyhamna Joint Venture. After the transaction NSI will hold a 13.7% interest in Nyhamna.

Chairman of the Board Thor Otto Lohne states:

“This is an important transaction for NSI, adding interest in an asset we know well and thereby building scale in our portfolio. It is fully in line with our strategy to build an NCS portfolio of infrastructure assets.”

The majority owners of NSI are Danish pensions funds managed by AIP Management P/S (AIP). AIP manages total assets of approximately €3 billion. NSI board member Johan B. Nordang – Investment Director in AIP adds: “We continue our strategy of direct investments in infrastructure and we are looking forward to deploy additional capital into the Norwegian midstream market through NSI.