Snam SpA has agreed to acquire a 100% stake in Infrastrutture Trasporto Gas SpA (ITG) and a 7.3% stake in Terminale GNL Adriatico (Adriatic LNG) from Edison SpA, a subsidiary of Electricite de France SA for $262.13m.

ITG operates the 83km Cavarzere Minerbio gas pipeline, which has a transport capacity of 9.6 billion cubic metre of gas a year.

Adriatic LNG operates a regasification terminal with a capacity of eight billion cubic metres a year, located in the northern Adriatic Sea, offshore Italy.

Upon the completion of the transaction, the terminal will be owned by ExxonMobil Italiana Gas Srl (70.7%), Qatar Terminal (22%) and Snam (7.3%).  

Scheduled for completion by the end of 2017, the transaction will allow Snam to extend its midstream business operations.

Macquarie Group Ltd plans to dispose its 42% stake in Puget Energy Inc The transaction is estimated to be valued at approximately $4.5bn, according to the sources. 

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Macquarie has appointed Moelis & Company and its own investment banking arm as financial advisors for the sale, according to sources. 

The transaction is scheduled for completion by the end of 2017. 

Andes Energia Plc has agreed to spend $1.64bn for the acquisition of all the issued shares of Trefoil Holdings BV, a company that indirectly owns 99.99% stake in Petrolera El Trebol SA (PETSA) from Upstream Capital.

"Adriatic LNG operates a regasification terminal with a capacity of eight billion cubic metres a year."

Andes directly owns 99.99% stake in Petrolera El Trebol SA (PETSA), while Upstream Capital is a subsidiary of Mercuria Energy Group Ltd.

The purchase consideration will be funded by Andes Energia through the issuance of consideration ordinary shares, deferred consideration shares, the Mercuria Warrants and rights to be issued as Settled Claim shares to Upstream Capital.

PETSA owns oil and gas assets in the provinces of Mendoza, Santa Cruz and Tierra del Fuego in Argentina. The net production from the assets was 8,811boed in 2016.

Andes Energia shareholders will hold 24.62% stake and Mercuria Energy will own 75.38% stake in enlarged share capital of Andes Energia once the transaction is complete.

The acquisition will allow Andes Energia to fortify its business operations.

Red Emperor Resources NL plans to dispose its 20% stake in Strait Oil and Gas Limited to Range Resources Ltd.

Strait Oil and Gas holds stake in VIa and VIb onshore exploration blocks in Georgia, extending over an area of approximately 6,500km².

Range resources will own 65% interest in Strait Oil and Gas, upon completion of the transaction.

The acquisition will allow Range Resources to expand its asset base in Georgia.