The Norwegian Ministry of Energy has entered into purchase agreements of interests in key gas transportation assets on the Norwegian continental shelf (Gassled JV, Nyhamna JV and Polarled JV) with 7 different companies for a total consideration of NOK 18.1bn (€1.5bn).
Agreements have been concluded with Norske Shell, CapeOmega, ConocoPhillips Skandinavia, Equinor, Hav Energy NCS Gas, ORLEN, and Silex Gas Norway. Equinor will continue to own a minority share in Nyhamna JV and Polarled JV, while North Sea Gas Infrastructure and M Vest Energy will retain their interests in Nyhamna and Polarled respectively. The agreements are subject to a consent by the Norwegian Parliament.
In 2023, the Ministry of Energy announced that the State - through the SDFI - aimed to make use of the right of reversion when the licenses expire, to reach a full state ownership of important parts of the upstream gas infrastructure. Most of the licenses will expire in 2028 and the Ministry started reviewing the shareholding structure in 2020, offering the current owners to buy all of their interests in Gassled, Nyhamna and Polarled joint ventures.
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