Taqa shares gain on Dutch Gas project majority

25 August 2010

The Abu Dhabi stock market index ADX General dipped 0.28% at 2,495.80 points. UAE heavyweights Aldar Properties (off 0.90% at Dhs2.20) and Etisalat (down half a percent at Dhs10.00) weighed on the sentiment. Shares of Abu Dhabi National Energy Co. (up 0.84% at Dhs1.19) gained against the trend. The UAE's largest oil and gas firm, dubbed Taqa, announced today that it has signed an agreement for the transfer of a 24% stake in the Bergermeer Gas Storage project previously owned by Dyas B. and Petro-Canada Netherlands to Taqa. In case the government in The Hague approves, Taqa's equity in the project will in increase from 36% to 60%.

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.