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    Home > Chemicals Industry > International Chemical > Total plans to sell its stake in the North Sea SEAL gas pipeline project

    Total plans to sell its stake in the North Sea SEAL gas pipeline project

    • Last Update: 2023-01-03
    • Source: Internet
    • Author: User
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    French energy company Total is seeking to sell its 25.
    7 percent stake
    in the Shearwater Elgin Area Line (SEAL) gas pipeline in the UK's North Sea.

    A source said the deal could raise about $200 million
    .

    The SEAL pipeline, operated by Royal Dutch Shell, transports gas from the Shearwater and Elgin Franklin platforms to the Bacton gas terminal
    off the Norfolk coast.

    The recent collapse in oil and gas prices due to the coronavirus pandemic and uncertainty about the outlook have led to a sharp slowdown
    in trading in the energy sector.

    However, energy pipelines and infrastructure remain attractive assets for investors because they often guarantee stable returns
    over the long term.

    Private equity group HitecVision recently renegotiated a deal
    to buy North Sea fields from Total.

    French energy company Total is seeking to sell its 25.
    7 percent stake
    in the Shearwater Elgin Area Line (SEAL) gas pipeline in the UK's North Sea.

    A source said the deal could raise about $200 million
    .

    The SEAL pipeline, operated by Royal Dutch Shell, transports gas from the Shearwater and Elgin Franklin platforms to the Bacton gas terminal
    off the Norfolk coast.

    The recent collapse in oil and gas prices due to the coronavirus pandemic and uncertainty about the outlook have led to a sharp slowdown
    in trading in the energy sector.

    However, energy pipelines and infrastructure remain attractive assets for investors because they often guarantee stable returns
    over the long term.

    Private equity group HitecVision recently renegotiated a deal
    to buy North Sea fields from Total.

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