The Belgian and Spanish natural gas infrastructure companies Fluxys and Enagás signed an agreement to jointly sell their total stake in Swedegas, the owner and operator of the high-pressure gas grid in Sweden, to FS Gas Transport AB, the company said in its press release.
FS Gas Transport AB is an indirectly wholly owned subsidiary of First State Investments managed European Diversified Infrastructure Fund II (“First State”). First State, that also owns the largest Swedish gas distribution network, approached Fluxys and Enagás with an offer to purchase Swedegas for an amount of 2,048 million Swedish Krona (about 192 million euro). Both companies, each owning a 50% stake in Swedegas, have agreed to this proposal. The closing of the transaction is subject to approval from the Swedish Competition Authority.
Over the past three years Swedegas has developed Sweden into a major growth market for small-scale LNG (liquefied natural gas) in both shipping and industry, it is a frontrunner of low-carbon gas transmission and has successfully completed preparations for a joint balancing zone with Denmark.