Norway Takes Control: Nationalisation of Gas Pipelines

Norway's government finalized a deal to nationalize much of its gas pipeline network, negotiating with seven private companies to secure a full transition by 2028. The acquisition includes a 100% stake in Gassled and aims to serve national interests, despite two companies refusing to sell their shares.

In a strategic move, the Norwegian government announced on Tuesday a successful agreement with seven private owners to nationalize a substantial portion of the country's gas pipeline infrastructure. This development follows plans unveiled in 2023 aimed at transitioning to full state ownership by 2028.

The government has committed 18.1 billion crowns ($1.64 billion) to purchase assets from the seven companies, strengthening its position as Europe's largest gas supplier post-Russian supply reductions due to the Ukraine conflict. This move enhances Norway's capacity to control and manage the essential network spanning 9,000 km.

While major stakeholders like Shell, CapeOmega, and Equinor have agreed to terms, dissent remains as groups like North Sea Infrastructure opt to retain their assets. The Norwegian state now possesses full control of Gassled, boosting its hold from a prior 46.7% ownership to 100% and aligning with its petroleum policy goals.

(With inputs from agencies.)