Today Fluxys G completed the acquisition of Eni’s interests in the TENP (Germany) and Transitgas (Switzerland) pipelines.
The acquisition includes stakes in the TENP and Transitgas asset owners as well as the rights to commercialize capacity in both pipelines. Acquiring infrastructure and capacity that is connected directly or indirectly to the Fluxys group’s existing infrastructure fully fits in with the group’s strategy of facilitating and promoting cross-border flows, enhancing security of supply and liquidity of the market, and linking the gas trading places in the Northwest and the South of Europe.
Walter Peeraer, Managing Director of Fluxys G : “U ntil now our assets provided capacity to flow gas between Germany and the UK, between the Netherlands and the UK, and from Zeebrugge or the Netherlands to France. Now we will be moving gas between the North and the South of Europe as well. We have now become a European transmission system operator, linking through our system the markets of the UK, Belgium, The Netherlands, France, Germany, Switzerland and Italy. This is a huge step forward in implementing our strategy and making the concept of a regional gas market more concrete and more palpable. And this is just the beginning. Because we fully back the investment project underway to turn the TENP and Transitgas pipelines into an infrastructure moving gas not only from north to south but also from south to north. We also envisage to reinforce the Stolberg-Raeren/Eynatten link to provide more capacity between the TENP pipeline and the Belgian network. Through these investments we will establish a fully functional market providing for easy gas transfers between the gas trading places in Germany, Italy, Belgium, France, the Netherlands and the UK. It is also our firm intention to further increase cooperation with other gas infrastructure companies, both in the Northwest and the South of Europe, to look into the development of new services to promote and facilitate transfers between those gas trading places. ”
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LNG World News Staff, November 30, 2011