Abu Dhabi’s Taqa Looks to Sell U.K., Dutch Oil and Gas Assets
- Includes stakes in Sullom Voe ship terminal, Brent pipeline
- Taqa’s business was hit hard by the coronavirus pandemic
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Abu Dhabi National Energy Co. has begun a process to sell its oil and gas assets in the Netherlands and the U.K, according to documents seen by Bloomberg.
The company, also known as Taqa, wants to divest itself of at least 17 fields plus stakes in the Sullom Voe shipping terminal, and the Brent and SAGE pipelines in the U.K. In a separate sales process, it is offering 32 Dutch oil and gas licenses, of which five are directly operated by the company.