Enagas to acquire Iberdrola's gas transportation assets
Enagas will acquire all of Iberdrola’s natural gas transportation assets for about €12.5 million ($16.7 million), pending regulatory approval.
Christopher E. Smith
OGJ Pipeline Editor
HOUSTON, Nov. 24 -- Enagas will acquire all of Iberdrola’s natural gas transportation assets for about €12.5 million ($16.7 million), pending regulatory approval. The transaction includes 100% of Iberdrola Infraestructuras Gasistas, owner and operator of the 1.1-km gas pipeline at the Escombreras Dock in Cartagena.
Enagas also acquired a 50% stake in Infraestructuras Gasistas de Navarra, owner and operator of the 13-km gas pipeline connecting to the Castejon combined-cycle thermal power plant, and the 6-km pipeline to the Arcos de la Frontera combined cycle thermal power plant.
The investment consolidates Enagas’ role as sole transporter for Spain’s primary gas transport trunk network, which went into effect Apr. 30 under Royal Decree-Law 6/2009.
France and Spain began coordinating gas allocations in late 2008 as part of integrating their gas markets (OGJ Online, Dec. 30, 2008).
Contact Christopher E. Smith at email@example.com.