ABOUT OUR INVESTMENT

In September 2011, Infragas Norge AS entered into a binding agreement to buy A/S Norske Shell's 5.006% interests in natural gas transport infrastructure joint venture Gassled and associated interests of 3.3% in Dunkerque Terminal and 2.5% in Zeepipe Terminal for a consideration of NOK 3.925 million (USD 730 million).

The transaction was approved by the Norwegian Government December 21, 2011 and the transaction was completed early January 2012.

The Gassled JV with terminals hold a license to operate until end of 2028 and it is expected that the integrated transportation and processing network will continue to operate for a considerable time beyond license expiry.