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Asset Swap picture of red line blue line

Asset Swap

13 Oct 2020

  • On creation of SGN, 26 sites were shared with National Grid. This led to complexities including cross boundary remediation issues, gas rationalisation issues and simple corporate policy differences in the disposal process that delayed transactions or failed to deliver them altogether
  • Asset Swap was a concept so that sites were transferred to the larger land holder so that following completion of asset swap the beneficiary land holder took ownership of the whole site and therefore able to deliver with complete control
  • The Asset Swap was completed in May 2020 and SGN disposals will follow from this
  • Both parties are now very pleased that they can efficiently and effectively deal with 13 whole sites rather than parts of 26 sites