FOR IMMEDIATE RELEASE

URCA Issues Adjudication on Proposed Change in Control of New Providence Gas Limited

The application relates to the proposed acquisition by Shell Bahamas Power Company Inc. of a 40% equity interest in NPG from Sun Oil Holdings Limited. Following its review, URCA determined that the proposed change in control is not likely to substantially lessen competition in any market in The Bahamas and is not contrary to the public interest.

URCA’s review considered the relevant legal and regulatory framework, the structure of the proposed transaction, representations received during the consultation period, market impact, and public interest considerations. URCA noted that no written submissions were received from interested parties during the consultation period.

URCA has granted approval for the change in control, subject to the transaction being implemented strictly in accordance with the structure and terms presented to URCA, and subject to continued regulatory oversight and notification requirements.

The full Adjudication, NGS 16/2026 – Application for Approval of Change in Control of New Providence Gas Limited, is available here.