Njord Gas Infrastructure AS to purchase ExxonMobil’s Gassled interest
ExxonMobil Exploration and Production Norway AS has agreed to sell its 9.428% interest in the Gassled Transportation System to Njord Gas Infrastructure AS. The sale is subject to approval from the Norwegian authorities.
The sale is the result of ExxonMobil’s long-standing practice of continually reviewing all assets for their contribution to the company’s operating needs and financial objectives. ExxonMobil’s objective is to maintain a consistent focus on being an industry leader in asset performance, business efficiency and in maximizing shareholder value.
ExxonMobil will retain its current capacity rights to transport natural gas through Gassled and will remain a major user of the system. Continued access to capacity is assured through the third-party open access regime that the MPE created when Gassled was established in 2003.
This divestment will have no impact on ExxonMobil’s operated or partner-operated producing assets in Norway. ExxonMobil will maintain its presence as the largest international oil and gas producer in Norway, and there will be no direct impact on ExxonMobil employees.
About ExxonMobil
ExxonMobil has been present in Norway since 1893. Our affiliates have been producing oil and gas from the Norwegian North Sea for decades, and we intend to continue with our large presence. We currently participate in more than 70 licenses on the Norwegian Continental Shelf (NCS).
Since the early 1980s, ExxonMobil affiliates have taken part in virtually all major gas infrastructure projects on the NCS. We are the largest international oil company in Norway and the second-largest producer of oil and gas from the NCS.
ExxonMobil’s production represents around 10% of Norway’s total oil and gas production, as well as 10% of ExxonMobil's global production.
About Njord Gas Infrastructure AS
Njord Gas Infrastructure AS is a wholly owned subsidiary of Njord Gas Infrastructure Holding AS, which is owned by the UBS International Infrastructure Fund (82%) and CDC Infrastructure SA (18%). Both the parent company and its Stavanger-based subsidiary are incorporated in Norway.
If you want more information about this issue, please contact:
Public and Government Affairs Manager - Kristin Kragseth
Work phone: 51 60 63 26
Cell phone: 951 16199
