Norway takes control of key gas infrastructure

The Norwegian Ministry of Energy has successfully concluded agreements with seven companies to acquire key parts of the country’s gas infrastructure, according to its statement on Tuesday.

This move aims to ensure state ownership of critical infrastructure and facilitate the implementation of Norway’s petroleum policy, which prioritises low tariffs for gas users, the report added.

The government’s decision to exercise its right of reversion, which allows it to take ownership of infrastructure at the end of a license period, has led to the acquisition of these assets. By taking ownership before the license expiration, the state has secured full control over these vital infrastructure components.

The total consideration for the acquisition is 18.1 billion Norwegian Krone. The government believes that this transaction is value-neutral, meaning it does not have a significant financial impact.

While the majority of the gas infrastructure is now under state ownership, some assets, such as those owned by North Sea Gas Infrastructure AS and M Vest Energy AS, will remain in private hands. Equinor Energy AS will also retain a minority stake in certain joint ventures.

Attribution: Norwegian Ministry of Energy report

Subediting: M. S. Salama