Eni completes sale of Interconnector pipeline shares

Eni closed its sale to Fluxys SA and Snam SpA of Eni’s 16.41% interest in Interconnector (UK) Ltd., 51% interest in Interconnector Zeebrugge Terminal SCRL, and 10% interest in Huberator SA.

IUK owns and operates the subsea natural gas pipeline providing a bi-directional link between Bacton, UK, and Zeebrugge,

Belgium. IZT and Huberator are Belgian companies. IZT owns the terminal and compressor facilities linking the Interconnector pipeline to the Belgian gas transmission system. Huberator is the operator and provider of hub services in Belgium.

Eni received €145 million for the sales and will retain its transportation contracts on the 235-km, 40-in. OD Interconnector system, which can carry 25.5 billion cu m/year from Zeebrugge to Bacton and 20 billion cu m/year the opposite direction.

Other shareholders in IUK include La Caisse de depot et placement du Quebec, CDP Investissements, ConocoPhillips, Distrigas, E.ON Ruhrgas, and Gazprom.

Contact Christopher Smith at chriss@ogjonline.com

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