Enagas subsidiary Transport Enagas SAU will acquire 90% of Naturgas Energy Transport from Energias de Portugal, including 450 km of high pressure gas pipelines and an international connection in Irun, Basque Autonomous Community, pending regulatory approvals.
Enagas plans to build a new compressor station for the system, increasing capacity of the connection from France into Spain to 2.1 billion cu m/year from 0.2 billion cu m/year. This station will have two units and one back up unit, with a total installed capacity of 21,000 kw.
The acquisition will cost Enagas €241 million. The Basque government, through the Basque Energy Board, will retain a 10% stake in the company.
The deal is part of the third European gas directive, stipulating that operators should separate vertically integrated transport activities from other activities, helping increase the independence and efficiency of the European gas system.
Contact Christopher E. Smith at firstname.lastname@example.org.