Shell Sells Stake in Norwegian Gas System for $723 Million

Sep. 01, 2011 10:49AM PST

Bloomberg reports that Royal Dutch Shell Plc (NYSE:RDS.A) decided to sell its stake in Norway’s natural gas pipeline for 3.9 billion kroner ($723 million) to a unit of Canada’s Public Sector Pension Investment Board.

The market news is quoted as saying:

Shell will sell its 5 percent interest in Gassled to Infragas Norge AS, owned by the pension fund with C$58 billion ($59.4 billion) under management, the oil company said today in a statement. The sale also includes Shell’s 3.3 percent stake in Dunkerque Terminal and 2.5 percent in Zeepipe Terminal.

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