Subsidiaries and other participations

Fluxys LNG SA
(consolidated subsidiary - Fluxys stake 100%)

Fluxys LNG owns and operates the LNG Terminal in Zeebrugge and sells terminalling capacity and related services. In 2007, Fluxys LNG launched an international market consultation to gauge interest in additional capacity at the terminal. Several players in the LNG sector expressed interest, initially, in building an additional jetty. A second phase could be scheduled to boost sendout and create additional storage capacity.


Fluxys & Co SA
(consolidated subsidiary - Fluxys stake 99.98% and Huberator stake 0.02%)

Fluxys & Co was partially split off on 8 May 2009. The field of activity entailing border-to-border transmission (marketing of natural gas transmission capacity in the Zeebrugge-Blaregnies (Troll) and Zeebrugge-Zelzate/Eynatten (RTR1) pipelines) and the associated cash were transferred to Fluxys Transit, a subsidiary of Fluxys. Fluxys Transit was incorporated into Fluxys via a merger-like operation on 12 May 2009.

Fluxys & Co continues to exist following this partial demerger, its assets comprising a 49% stake in the “Partrederiet BW Gas Fluxys DA” incorporated under Norwegian law and owner of the LNG ship “BW Suez Boston”, and retains the rights and obligations associated with pending disputes in regulatory and tax matters.


Fluxys Finance SA
(consolidated subsidiary - Fluxys stake 99.9% and Flux Re stake 0.1%)

Fluxys Finance (formerly Fluxys Europe) was established on 10 December 2009 by Fluxys (99.9%) and Flux Re (0.10%). On 6 August 2010 the name was changed into Fluxys Finance and the company’s objective was altered. Fluxys Finance aims to centralize the cash management of the Fluxys Holding Group.


Huberator SA
(consolidated subsidiary - Fluxys stake 90%)

Huberator operates the Zeebrugge Hub and provides services to companies (Hub Customers) trading volumes of gas on the Hub. In late 2009, the company had 76 members (compared with 73 in late 2008). In 2009, the net volume of natural gas traded on the Zeebrugge Hub was up 42.6% on 2008. A total of 63 billion cubic metres (721 TWh) of natural gas were traded on the Hub in 2009, which is more than 3.5 times the annual consumption rate for the Belgian market.


Gas Management Services Limited
(consolidated subsidiary - Fluxys stake 100%)

Gas Management Services Limited (GMSL), a company established under British law, offers operational support services to help natural gas chain operators monitor their natural gas movements and transfers on natural gas transmission grids in Ireland, Austria, France, the United Kingdom, Belgium, Germany, the Netherlands, Norway, Italy and Switzerland as well as in subsea pipelines in the North Sea, both within gas-production fields in Norway and in the North Sea. GMSL has consolidated its position on the gas market by diversifying its portfolio of operational services and via three major IT projects. In 2009, the development of PowerTrak also enabled GMSL to shore up its position on the electricity market.


Guimard SA
(consolidated subsidiary - Fluxys Finance SA stake 100 %)

The public limited company Guimard is wholly owned by Fluxys Finance SA. The company holds the building that was recently acquired to accommodate part of the Fluxys central services.

Fluxys Europe BV
(consolidated subsidiary - Fluxys stake 100%)

Fluxys Europe (formerly Fluxys NL) is a company established under Dutch law and set up on 23 June 2004 primarily to hold a stake in Fluxys BBL BV. On 17 December 2009, Fluxys Europe purchased from E.ON Ruhrgas a 10% stake in Interconnector UK Ltd (IUK), the operator of the subsea pipeline that has connected Zeebrugge with Bacton in the United Kingdom since 1998. And as of May 2010, Fluxys Europe increased its stake in Interconnector to 15%.

Interconnector (UK) Limited
(non-consolidated company - Fluxys NL BV stake 10%)

Interconnector (UK) Limited, a company established under British law and set up in 1994, operates the subsea natural gas pipeline (235 km) and the coastal landing terminals at Bacton in the United Kingdom and Zeebrugge for two-way transmission of natural gas between markets in the United Kingdom and continental Europe. Fluxys holds a 10% stake in Interconnector (UK) Limited via its subsidiary Fluxys NL BV, the other shareholders being La Caisse de dépôt et placement du Québec, CDP Investissements, ConocoPhillips, Distrigas, Electrabel, ENI, E.ON Ruhrgas and Gazprom.


Fluxys BBL BV
(consolidated subsidiary - Fluxys NL BV stake 100 %)

Fluxys BBL is a company established under Dutch law and was set up on 23 June 2004 to take a 20% stake in BBL Company VOF.



BBL Company VOF
(joint venture - Fluxys BBL BV stake 20%)

BBL Company VOF is a partnership established under Dutch law and was set up on 9 July 2004 to manage construction, operation and marketing of the subsea natural gas pipeline between Bacton in the United Kingdom and Balgzand in the Netherlands. The pipeline was commissioned on 1 December 2006.



Flux Re
(consolidated subsidiary - Fluxys stake 100%)

Flux Re is a reinsurance company established under Luxembourg law set up on 18 October 2007. On 10 December 2009, Flux Re acquired a 0.10% stake in Fluxys Europe (a new Fluxys subsidiary).


Belgian Pipe Control SA in settlement
(non-consolidated company - Fluxys stake 25%)

Belgian Pipe Control (BPC) was responsible for low-level maintenance and inspection of pipelines belonging to third parties and used for the transmission of products other than natural gas. In December 2009, the contracts in force between BPC and SNTC were terminated effective 1 January 2010. Insofar as BPC is winding up its activities, the Board of Directors plans to propose dissolving and liquidating the company at the next Annual General Meeting to be held in 2010.



C4Gas SA
(non-consolidated subsidiary - Fluxys stake 5%)

C4Gas is a public limited company set up in 2002 with GDF SUEZ and National Grid. Its purpose is to create and operate a gas material purchasing portal.



APX BV
(non-consolidated company - Fluxys stake 3.84%)

APX BV, a company established under Dutch law, is a group of international power and gas exchanges in the Netherlands, the United Kingdom and Belgium. The company also provides market data and indices for electricity and natural gas to meet the needs of traders, energy suppliers and energy-intensive industries.

In December 2008, APX acquired ENDEX. Most of 2009 was therefore spent incorporating ENDEX's activities into an integrated structure.

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