Spain: Enagas Buys 90 Percent of Naturgas Energia Transporte

Enagás, via its subsidiary Enagás Transporte S.A.U, has completed the acquisition of 90% of Naturgas Energía Transporte, as announced in July, for the sum of €245Mn, following certain modifications during negotiations.  The company will be called Enagás Transporte del Norte.

The Basque Government will retain 10% of the company through the Basque regional energy board (EVE).

The deal includes the acquisition of 450 km of high-pressure gas pipelines and the international Irún connection. Furthermore, there are plans to build a new compressor station, which would increase the capacity of the connection heading from France into Spain from the current 0.2 bcm to 2.1 bcm. Also under construction is the 54 km gas pipeline between Bilbao and Treto which will improve the Bilbao plant’s links to the rest of the Bay of Biscay coastline.

[mappress]
LNG World News Staff, February 19, 2013; Image: Enagás