Fluxys and Enagas selling Swedish gas grid operator

The Belgian and Spanish natural gas infrastructure companies Fluxys and Enagás said on Monday that they have signed an agreement to jointly sell their total stake in Swedish gas grid operator Swedegas to FS Gas Transport.

FS Gas Transport is an indirectly wholly owned subsidiary of First State Investments managed European Diversified Infrastructure Fund II.

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 2.04 billion Swedish Krona (about 192 million euro), a joint statement said.

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 liquefied natural gas (LNG) 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, the statement reads.