Shell Sells Stake in Norwegian Gas System for $723 Million

Royal Dutch Shell Plc, Europe’s largest oil company, will 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.

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.