PGGM Acquires Stake in Dutch Gas Transportation System NOGAT

Dutch PGGM will acquire a stake in NOGAT, owner of the Northern Offshore Gas Transportation system bringing gas from the North Sea to the Netherlands.

According to a note released on Thursday, PGGM will take over a 33.2% interest in NOGAT from GDF SUEZ E&P Nederland. The transaction is subject to European Commission approval.

“The Netherlands has a stable gas policy, which makes it interesting for a long-term investor like PGGM to invest in the natural gas infrastructure on behalf of its clients. The pension funds say they want to contribute to strengthening the Dutch economy with responsible investments,” said Henk Huizing, Head of Infrastructure at PGGM.

Contacted by phone, the company declined to disclose the amount of the investment. 

Other shareholders in NOGAT include EBN, Total E&P Nederland and Centrica Production Nederland. GDF SUEZ E&P Nederland will continue to be a shareholder and the operator.

PGGM is a cooperative Dutch pension fund service provider, managing approximately € 140 billion for 2.5 million people.