Allianz acquires 6.4 percent stake in Gassled gas transportation grid

Gassled transports Norwegian gas from production sites by pipeline to consumers on the European continent and the United Kingdom. The Gassled grid conveyed around 100 billion cubic meters of gas last year, roughly a sixth of total EU consumption. The Gassled owners derive revenues from shippers who have booked transportation capacity on a "ship or pay" basis. The transportation tariffs are regulated by the Norwegian Ministry of Petroleum and Energy.

"Infrastructure provides interesting investment opportunities," said Paul Achleitner, Member of the Board of Allianz SE. "It protects against inflationary pressure and yields attractive longterm returns for customers and shareholders. In addition, infrastructure investments correlate less to equity markets, thereby stabilizing our investment income."

On Monday, Allianz together with Canada Pension Plan Investment Board (CPPIB) and Infinity Investments SA, a wholly owned subsidiary of the Abu Dhabi Investment Authority, acquired a 24.1 percent stake in Gassled from Statoil ASA for a total consideration of 17.35 billion NOK (approximately 2.2 billion euros).

The transaction is subject to regulatory approvals.

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.
Link to the disclaimer

Group Communications

Phone +49.89.3800-18475

Send e-mail