Taqa Selling Stake in Dutch Gas Pipeline

Abu Dhabi National Energy, also known as Taqa, has agreed to sell its 40% stake in a natural gas pipeline in the Netherlands.

Under an agreement, the company will sell its stake in Noordgastransport (NGT) to the Danish pension fund PensionDanmark for about $240 million, The National reports.

Subject to regulatory approvals, the deal is expected to close by the end of the year.

Operated by GDF Suez E&P, the pipeline consists about 470 kilometres of pipelines with a daily gas transportation capacity of about 42 million cubic metres.