The infrastructure team of Aberdeen Standard Investments, the asset management business of Standard Life Aberdeen, has made a second investment in a gas pipeline and processing system. The team has acquired the InfraVia Capital Partners Managed Fund’s 20 percent interest in Noordgastransport (NGT) B.V., the owner of a pipeline and processing plant transporting and treating natural gas that is principally produced from the Dutch Continental Shelf.
The entire NGT system, which is operated by Neptune Energy, incorporates a 178-kilometer 36-inch pipeline constructed in 1975, a 140-kilometer 36-inch pipeline constructed in 1999 and a processing plant located onshore at Uithuizen. The system connects approximately 75 platforms of different operators to the processing facility.
After treatment, the gas is delivered to the pipeline network of Gas Transport Services, which manages the national gas transportation network. In total, NGT manages approximately 470 kilometer of pipelines, and is the longest established system in the Dutch North Sea, benefitting also from the largest catchment area offering a diversified portfolio of gas fields in production and development.
The acquisition has been funded through SL Capital Infrastructure I LP Fund (SLCI I). SLCI I is focused on investing in core infrastructure assets in Europe, and already holds six other investments including a stake in the NGT extension pipeline, hydro-electric plants in Norway, a gas distribution business in Finland, and new trains across the United Kingdom.
“This second stake in the NGT pipeline system follows our strategy to develop a strong presence in the European gas and midstream sector. The investment provides us with exposure to a greater number of gas fields, therefore diversifying cash flows for investors in our infrastructure fund,” said Dominic Helmsley, head of economic infrastructure, Aberdeen Standard Investments.
