In order to purchase a 20% stake in the Dutch BBL Company, the owner of the 235-kilometer gas interconnection that connects the UK with the Netherlands, Enagás has concluded a deal with Germany’s Uniper.
Following this agreement, Gasunie will control 60% of BBL, followed by Fluxys (20%) and Enagás (20%). Following the acquisition’s completion, this crucial infrastructure for Europe’s supply security will be owned by three Transmission System Operators (TSOs).
According to the company’s Strategic Plan, the deal enables Enagás to improve its position as one of the key players to increase the security of Europe’s energy supply.
In addition to the usual prerequisites for regulatory clearances, the deal is subject to the other current co-owners of the BBL company’s right of preemption.
Approximately 75 million euros will be invested by Enagás in this purchase, should the prerequisite conditions for this kind of deal are met.
Important link between Europe
The BBL Interconnection, a 235-kilometer pipeline with a two-way flow of natural gas between the Netherlands and the UK, is run by BBL Company and is essential to Europe’s security of energy supply. By connecting the production and consumption points in the Netherlands and the UK, the infrastructure featured in the European Hydrogen Backbone map—an initiative involving 31 European TSOs from 28 European countries driving a future EU hydrogen network—could be modified for the transport of green hydrogen.
Between Balgzand in the Netherlands and Bacton in the UK, the undersea gas pipeline can move a maximum of 15 bcm/y of direct flow and 5 bcm/y of reverse flow.
