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Global investment firm Carlyle is leveraging its expertise in carving out exploration and production (E&P) assets by building a standalone natural gas-weighted business focused in Croatia, Egypt and Italy.
The binding transaction with London-based Energean plc is estimated to be worth more than $900 million. Energean’s portfolio is 80% weighted to natural gas. Carlyle plans to use the assets to develop more resources in the Mediterranean, an area teeming with natural gas prospects.
Croatia, Egypt and Italy “are actively encouraging new gas development, which we believe will play a central role in the energy transition,” Carlyle International Energy Partners (CIEP) co-head Bob Maguire said.
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