- The company reaches an agreement to buy 20% of BBL Company, which owns the interconnection between the UK and the Netherlands, from Uniper.
   - This operation is part of the objectives of the Company's Strategic Plan to contribute to the security of supply in Europe and decarbonization

Enagás has reached an agreement with Germany’s Uniper to acquire a 20% stake in the Dutch BBL Company, owner of a 235-kilometre gas interconnection linking the UK and the Netherlands.

Following this deal, the share ownership of BBL will be as follows: Gasunie (60%), Fluxys (20%) and Enagás (20%). Following the closing of the acquisition, three Transmission System Operators (TSOs) will own this key infrastructure in Europe's security of supply.

In this regard, the agreement allows Enagás to advance in its positioning as one of the main operators to strengthen the security of energy supply in Europe, in line with the company’s Strategic Plan.

Besides customary condition precedents with regards to regulatory approvals, the transaction is subject to a preemption right of the other existing co-owners of BBL company.

Enagás’ investment in this purchase is approximately 75 million euros, subject to compliance with the conditions precedent inherent to this type of transaction.

Key interconnection for Europe

BBL Company is the operator of the BBL Interconnection, a 235-kilometre pipeline that is key to Europe’s security of energy supply with a two-way flow of natural gas between the Netherlands and the UK. The infrastructure, included in the European Hydrogen Backbone map - an initiative involving 31 European TSOs from 28 European countries driving a future EU hydrogen network - could be adapted for the transport of green hydrogen by linking production and consumption points in the Netherlands and the UK.

The undersea gas pipeline has a maximum capacity of 15 bcm/y of direct flow between Balgzand in the Netherlands and Bacton in the UK and 5 bcm/y in the reverse direction.

About Enagás

Enagás is a TSO (Transmission System Operator) with 50 years of experience in the development, operation and maintenance of energy infrastructures. It has more than 12,000 kilometres of gas pipelines, three strategic storage facilities, eight regasification plants and operates in seven countries: Spain, the United States, Mexico, Peru, Albania, Greece and Italy. In Spain, it is the main natural gas transporter and the Technical Manager of the Gas System.

In accordance with its commitment to the energy transition, Enagás has nnounced that it is bringing forward its goal of becoming carbon neutral to 2040. The company is committed to the development of renewable gases (such as biomethane or green hydrogen), sustainable mobility and energy efficiency, among other areas. The company is a world leader in its sector in the main sustainability indices, as the Dow Jones Sustainability Index World, is included in the CDP Climate Change A List 2021, and has obtained the highest ESG rating in its sector in the FTSE4Good sustainability index.

About Uniper

Düsseldorf-based Uniper is an international energy company with activities in more than 40 countries. With around 7,000 employees, it makes an important contribution to security of supply in Europe. Uniper’s core businesses are power generation in Europe, global energy trading, and a broad gas portfolio. Uniper procures gas – including liquefied natural gas (LNG) – and other energy sources on global markets. The company owns and operates gas storage facilities with a capacity of more than 7 billion cubic meters. Uniper plans for its 22.5 GW of installed power-generating capacity in Europe to be carbon-neutral by 2035. The company already ranks among Europe’s largest operators of hydroelectric plants and intends to further expand solar and wind energy, which are essential for a more sustainable and autonomous future.

Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey. Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply.