North Sea Infrastructure AS (NSI) is pleased to announce that it has entered into a sale and purchase agreement with A/S Norske Shell for purchase of Shell’s 8% participating interest in Vestprosess DA, based on an all cash transaction.

Subject to certain pre-emption rights, the transaction takes effect from 01.01.2019 and is furthermore 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.

Peder Sortland, CEO of NSI states: “This is an add-on transaction fully in line with our strategy to build a diversified NCS portfolio of gas infrastructure assets.”