Enagás reaches an agreement to acquire 31.5% of the French operator Teréga, and completes the sale of 40% of Enagás Renovable.

Enagás has announced two major milestones for the company. Firstly, the company has unveiled it has reached an agreement to acquire 31.5% of the French operator Teréga from GIC for 573 million euros. Teréga has approximately 5,100 kilometers of gas pipelines and two underground storage facilities in southwestern France, representing approximately 16% of the French gas transmission network and 27% of the country’s storage capacity. Teréga’s network is connected to the Enagás network via two international interconnections.

Additionally, Enagás has also completed the sale of 40% of Enagás Renovable to Hy24 for 48 million euros, while retaining a 20% stake in this subsidiary. Enagás has initiated this divestment process in Enagás Renovable in light of the progress in the deployment of the Spanish Hydrogen Backbone Network that the company is leading, and with a view to ensuring full compliance with European regulations on the separation of activities.

Source: Enagás