Fluxys Buys Gasprom’s Interconnector (UK) Stake

Image: IUK

Belgium-based natural gas transmission system operator, Fluxys, has acquired Gazprom’s 10 per cent stake in Interconnector (UK), owner and operator of the subsea pipeline between the UK and Belgium. 

The Interconnector is bidirectional transmission link connecting the UK to Continental European markets. The pipeline offers the UK market a tool for physical export to mainland Europe, contributing to the diversification of sources for Continental Europe.

Walter Peeraer, managing director and CEO of Fluxys, said: “Through the acquisition of Gazprom’s stake Fluxys becomes majority shareholder in Interconnector (UK) and we are fully aligned with our co-shareholders to move the company forward.”

Fluxys through the transaction increases its direct stake in Interconnector (UK) to 35%. Besides its direct stake, Fluxys holds with industry partner Snam on a 50/50 basis a joint stake of 31.50% in Interconnector (UK) and Fluxys shareholder Caisse de dépôt et placement du Québec holds an interest of 33.5% in the company.

Share this article

Follow Subsea World News

Events>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Deepwater Operations Conference & Exhibition

The Deepwater Operations Conference and Exhibition provides a unique experience for attendees and exhibitors to share…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >

Rio Pipeline 2017

Rio Pipeline Conference & Exhibition has changed its branding design, to unify the whole pipeline community, in an even more complete event…

read more >