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BP agrees to sell its stake in North Sea gas pipeline system in a

The company is to sell its equity in the Central Area Transmission System (Cats) business to Antin Infrastructure Partners, which already owns a majority interest in the operation. The oil giant – the current operator of Cats – said securing the new owner will ensure a better future for the key piece of North Sea infrastructure. Cats, a combination of pipeline and processing facilities, transports and processes gas on behalf of most of the major North Sea gas producers. The infrastructure can handle more than 48 million cubic metres of natural gas each day. The Cats pipeline begins at a riser platform in the central North Sea and transports gas some 250 miles (400km) to a processing terminal in Teesside on the north-east coast of England, according to its website. BP said the agreement comprises a payment on completion of