Eni Sells Portions Of Gas Network

Transaction Type
Sellers
Buyers
Announce Date
Post Date
Close Date
Estimated Price
177MM
Description

The assets include a 16.41% interest in Interconnector (UK) Limited ("IUK"), 51% interest in Interconnector Zeebrugge Terminal SCRL ("IZT") and 10% interest in Huberator SA ("Huberator"). Eni will retain its transportation contracts of IUK's capacity.

Belgium gas company Fluxys SA and its Italian counterpart, Snam S.pA, plan to buy gas infrastructure projects from Italy’s Eni for € 145 million.

The assets include a 16.41% interest in Interconnector (UK) Limited ("IUK"), 51% interest in Interconnector Zeebrugge Terminal SCRL ("IZT") and 10% interest in Huberator SA ("Huberator"). Eni will retain its transportation contracts of IUK's capacity.

IUK owns and operates the subsea gas pipeline that provides a bi-directional link between the UK (Bacton) and Belgium (Zeebrugge). IZT and Huberator are Belgian companies: IZT owns the terminal and compressor facilities linking the Interconnector pipeline to the Belgian gas transmission system and Huberator is the operator and provider of hub services in Belgium.