EnergyWatch

National Grid sells gas pipeline for billions

A consortium of state investors, including from China and Qatar, have bought the majority of National Grid's gas distribution, which is valued at GBP 3.6 billion.

Photo: Dong Energy, PR

National Grid has sold 61 percent of shares in its British gas division (NGGD). The buyer is a consortium lead by Australian investment bank Macquarie Bank and is backed up financially by state investors including China and Qatar. The consortium will pay GBP 3.6 billion for a majority shareholding and a further GBP 1.8 billion in debt financing.

This is according to a press release from the company.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Glencore books huge profit from gas crisis

The exorbitant natural gas prices have led several countries to reverse course on coal. This has served to benefit mining company Glencore, which, unlike competitors, has decided not to cut down on coal production.

Pelosi's Taiwan visit could impact Tesla's battery supplies

According to Bloomberg, the Chinese government has interfered with Chinese battery manufacturer CATL’s plans to build a factory in the US. A decision on where to build the factory has reportedly been postponed due to Nancy Pelosi’s visit to Taiwan. Updated.

Further reading

Related articles

Latest News

See all jobs