BP Sells Equity in CATS Pipeline/Processing Facilities in North Sea

BP is selling its equity in the Central Area Transmission System (CATS) business in the UK North Sea to Antin Infrastructure Partners for $486 million. CATS can handle over 1.7 Bscf/d of natural gas and is considered one of the most significant events in UK’s natural gas industry. Operated by BP, CATS transports and processes gas for over 20 customers, including most major North Sea producers.