20 September, 2018
Article length: 90 words
Kuwait: Acquisition of North Sea gas assets
The European Commission announced on 17 September that it had approved the Kuwait Investment Authority’s takeover of UK-based North Sea Midstream Partners (NSMP) from ArcLight Capital Partners, after deciding that the deal posed no competition concerns. The value of the deal has been estimated at $1.7bn. NSMP owns a number of natural gas transportation and processing facilities in and around the North Sea, including gas processing plants at Teesside, England and St Fergus, Scotland as well as the Shetland Islands Regional Gas Evacuation System.