Partners Group has expanded its midstream infrastructure assets with the acquisition of Norwegian firm CapeOmega from HitecVision for around €1.2bn.
Formed in 2014, CapeOmega provides infrastructure for transporting natural gas produced on the Norwegian Continental Shelf (NCS).
Esther Peiner, managing director, private infrastructure Europe, Partners Group, said: “Natural gas is increasingly adopted as a complementary fuel source to renewables in the context of the retirement of coal-fired and nuclear power plants across Europe, and the NCS is poised to benefit from this demand tailwind.
“Partners Group welcomes the opportunity to partner with a well-respected and experienced management team to realize the associated infrastructure expansion potential for CapeOmega in one of Europe’s key natural gas supply hubs.”
Partners Group already owns a portfolio of midstream infrastructure assets on behalf of its clients. The company’s most recent transactions in this sub-sector include its 2018 investment in US-based Superior Pipeline Company and its 2016 investment in the construction of Arcanum Infrastructure, an ethylene to butene-1 processing facility located in Texas.