Partners Group has agreed to acquire 100 percent of the equity in CapeOmega, an offshore infrastructure platform in Norway, on behalf of its clients.
The company is being acquired from private equity investor HitecVision in a transaction that values CapeOmega at approximately €1.2 billion ($1.3 billion).
Formed in 2014, CapeOmega provides essential infrastructure for transporting natural gas produced on the Norwegian Continental Shelf (NCS). CapeOmega holds significant stakes in some of Norway’s key midstream infrastructure: Gassled, the world’s largest offshore gas transmission system; Nyhamna, one of three key gas processing plants in Norway; and Polarled, a 480-kilometer (300-mile) pipeline that runs from the Aasta Hansteen field to Nyhamna. CapeOmega’s midstream investments benefit from high barriers to entry with no competing infrastructure and no pipe-to-pipe competition.
The NCS, which supplies around 27 percent of Europe’s gas demand,