Wren House Infrastructure as agree to acquire North Sea Midstream Partners Limited (NSMP) from ArcLight Capital Partners. NSMP owns a 67% operated interest in the SIRGE pipeline that transports natural gas from the prolific West of Shetland basin and a 100% operated interest in the FUKA pipeline that transports gas from the SIRGE pipeline and various fields in the Northern and Central North Sea. NSMP also owns a 100% operated interest in the associated St. Fergus Gas Terminal as well as the Teesside Gas Processing Plant (TGPP) which processes gas from the Central North Sea and Southern North Sea.
NSMP was formed in 2012 by affiliates of ArcLight, Mike Wagstaff (the former CEO of Venture Production plc) and the senior management of TGPP, including Chief Executive Officer Andy Heppel, with the purpose of investing in North Sea midstream assets. Through this partnership, NSMP successfully integrated its FUKA, SIRGE, and St. Fergus Gas Terminal investments, demonstrated a strong track record of securing new business via long-term contracts, implemented numerous operational initiatives, and helped to bring new fields online, including the Greater Laggan Area, Breagh, and Stella Harrier.
The transaction, which is subject to merger control clearance, is expected to close in 2018. There will be no changes to either the NSMP management team, or the operation of NSMP’s assets by the px Group, as a result of the change in ownership.
For more information, visit: http://www.nsmp-limited.com/
27th July 2018