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London-based Wren House Infrastructure Management has entered into an agreement with an affiliate of ArcLight Capital Partners to acquire ArcLight’s entire stake in North Sea Midstream Partners (NSMP).

Established in 2012, NSMP is an independent North Sea midstream business with four large scale natural gas transportation and processing assets in and around the North Sea.

The company holds interests in these assets, which form an important part of gas infrastructure in the UK.

It serves both the UK and Norwegian sectors of the North Sea, processing around 25% of UK natural gas.

The deal covers a 67% operated interest in the Shetland Island Regional Gas Export System pipeline (SIRGE), 100% operated interest in the Frigg UK pipeline (FUKA) along with 100% operated interest in the associated St. Fergus Gas Terminal (SFGT) the Teesside Gas Processing Plant (TGPP).

“NSMP’s catchment areas, in particular the West of Shetland basin, represent one of the most promising areas in terms of exploration and future developments.”

SIRGE transports natural gas from the prolific West of Shetland basin, while FUKA transports gas from the SIRGE pipeline, as well as other fields in the Northern and Central North Sea.

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Wren House managing director Hakim Drissi Kaitouni said: “This acquisition underlines Wren House’s long-term successful strategy of investing in superior quality platforms.

“NSMP’s catchment areas, in particular the West of Shetland basin, represent one of the most promising areas in terms of exploration and future developments. Our deep experience in energy infrastructure, operational expertise and financial strength make Wren House uniquely qualified to acquire NSMP.”

The companies have not disclosed the terms of the transaction.

The deal, which is subject to the receipt of customary merger clearance, is slated for completion this year.