Breaking ground to make the transition tangible

The energy transition is a massive undertaking for society as a whole and we are going all out to help speed up this process. Our infrastructure is essential to making the transition happen.

2023 was a turning point. We went from plans and projections to breaking ground on new projects. With infrastructure for security of supply that we can sustainably deploy tomorrow for the benefit of the carbon-neutral society. And this is just the beginning. We have set off, powered by the vibrant strength and forward-looking commitment of all our employees.

Interview with our CEO and our Chairman

Before we look ahead, what did Fluxys stand for in 2023? 

Pascal De Buck We broke ground on projects showing what Fluxys stands for in the energy transition. In Belgium, the new pipeline along the Zeebrugge-Brussels corridor was built and is now in use. And in Germany, work is well underway to upgrade the TENP pipeline. Together with other investments, these two pipelines bolster the security of supply of natural gas today and the infrastructure is ready to be used in the hydrogen networks of tomorrow. We're here to offer society security of supply while speeding up the green transition.

Andries Gryffroy We have set off. Industrially, we’ve taken the first big steps towards multi-molecule infrastructure for a carbon-neutral future. Via our stake in German transmission system operator Open Grid Europe, we’ve created a bridge to geographically complementary hydrogen and CO₂ networks. And our partnership in Omani transmission system operator OQGN gives us a foothold in a country with an extraordinary potential for exporting hydrogen to Europe. At the same time, we’re continuing to move full steam ahead at the pace of industry. For numerous companies, switching to hydrogen or CO₂ capture is the only way forward if they want to continue anchoring their business and employment locally.

Is industry ready for this transition?

Pascal De Buck Decarbonisation is a major economic challenge for industry. We offer an answer to this challenge because we operate internationally and because we're particularly well positioned between the North Sea and the large industrial valleys in North-West Europe. We’re on the path between overseas imports of low-carbon molecules and consumers, and in the opposite direction, between captured CO₂ from industry and safe storage sites in the North Sea. This enables us to attract large volumes and factor economies of scale into the costs of our services. We're on track to become the hydrogen and CO₂ hub of choice for industry in Belgium and North-West Europe.

Pascal De Buck

  We're here to offer society security of supply while speeding up the green transition."

Pascal De Buck
Managing Director and CEO

What challenges lie ahead?

Pascal De Buck We absolutely need an integrated approach to the energy system as a whole because making the transition to net-zero is a threefold challenge. We must ensure a carbon-neutral energy mix while households and businesses need to have energy at all times – all at the lowest possible cost to society. This is only possible by looking at and planning everything holistically. Energy efficiency must improve, we need more green electricity, we need more green and low-carbon molecules and we must ensure that captured CO₂ can be reused or stored. We must make all these solutions work together seamlessly like a Swiss watch for the benefit of all consumers.

Andries Gryffroy Efficient investing requires a long-term approach. In developing hydrogen and CO₂ infrastructure, we work closely with the market. At the same time, looking further ahead is key: to be cost-effective for society in the long run, we must build the right size infrastructure today for the volumes that will come later. So it's important to find mechanisms together with the public authorities to limit the risks of initial investments.

What does sustainable development look like for Fluxys?

Andries Gryffroy With our investment plans for hydrogen and CO₂ infrastructure, we're developing solutions for the large-scale decarbonisation that society needs. The ESG approach we further deepened together with our stakeholders in 2023 gives us direction. It is our compass for developing our business activities sustainably in a long-term perspective for all of our stakeholders.

Andries Gryffroy

  Efficient investing requires a long-term approach."

Andries Gryffroy
Chairman of the Board of Directors

Milestones in 2023

  • Supporting security of supply 24/7
    Throughout the year, our teams across Europe made every effort to ensure security of supply. The geopolitical situation resulting from the war in Ukraine has profoundly changed the dynamics of gas markets and the direction of flows in Europe. The Belgian grid once again confirmed its role as an energy hub for Europe with the transit of large quantities to the Netherlands and Germany. We brought in plenty of flows from Norway, from the UK and through our LNG terminals. In Germany we imported significant quantities from Belgium and the Netherlands, from the new floating LNG terminals in the north and also from and to Switzerland. Desfa in Greece provided substantial transit to Bulgaria and TAP continued to supply large volumes to Europe.
  • Pascal De Buck and Kadri Simson visit gas-hydrogen pipeline construction site
    Additional transmission capacity ready for hydrogen
    In Belgium we reinforced the Zeebrugge-Brussels corridor with an additional pipeline to carry more natural gas inland from Zeebrugge and in Germany we started renewing part of the TENP pipeline. Moreover, the new infrastructure has been designed to carry hydrogen as soon as the market is ready for it. We are bolstering security of supply and at the same time this is our first concrete step in speeding up the energy transition.
  • North Sea hydrogen highway MoU
    Strong partners for large-scale decarbonisation
    We aim to offer European industry large-scale solutions for decarbonisation. In Belgium we are continuing to build a multi-molecule hub to carry hydrogen and CO₂. And we are joining forces with various partners to make maximum use of Belgium's central location for the large-scale decarbonisation of industry in North-West Europe. We explore cross-border hydrogen connections with Open Grid Europe in Germany and Hynetwork Services in the Netherlands. We are also working with National Gas in the UK in the context of the energy transition. And cross-border CO2 routes we are exploring with Open Grid Europe and Wintershall Dea in Germany.
  • Fluxys hydrogen Fluxys c-grid logo
    System operator candidates in Belgium: Fluxys hydrogen and Fluxys c-grid
    In Belgium, the federal Hydrogen Act, passed in July, regulates the appointment of the Belgian hydrogen transmission network operator. In line with the Hydrogen Act, Fluxys Belgium set up subsidiary Fluxys hydrogen, which is a candidate for serving as Belgian hydrogen network operator. The federal government is expected to appoint the network operator in the first months of 2024. The regions are setting up a regulatory framework for CO₂ transmission activities. In anticipation of this, together with Pipelink, Socofe and SFPIM, we have founded the subsidiary Fluxys c-grid, a separate company that is ready to take part in the planning, development, and operation of the CO₂ transmission infrastructure in Belgium.
  • Tapping the North Sea's energy potential
    The North Sea countries want to boost their combined offshore wind power generating capacity to 300 GW by 2050 with a view to making the North Sea the largest green energy plant in Europe. In order to carry maximum green hydrogen from North Sea wind ashore, we teamed up with the other major gas grid operators at the North Sea Summit in Ostend to develop, together with electricity grid operators, the best infrastructure to ensure that not a single puff of wind goes to waste in the North Sea.
  • Partner in the largest German transmission system operator
    In 2023, Fluxys became a 24% partner in Open Grid Europe (OGE). The partnership aligns perfectly with our strategy. OGE is the largest German transmission system operator and, like Fluxys, is a pioneer in the field of hydrogen and CO₂ infrastructure. With highly complementary hydrogen and CO₂ infrastructure, we are speeding up the development of cross-border routes for hydrogen and CO₂ between Belgium and Germany.
  • CO2 at Dunkerque LNG
    Range of export solutions for CO₂
    We are working closely with partners on infrastructure that offers industry a solution for carrying captured CO₂ to safe and permanent storage sites in the North Sea. With Equinor we are investigating a subsea pipeline between Zeebrugge and storage sites in Norwegian waters. At the ports of Dunkirk, Antwerp and Ghent we are working on facilities for CO₂ export by ship to storage sites in the North Sea.
  • Partner in Omani transmission system operator
    A robust hydrogen market in Belgium and Europe is a value chain with a wide range of sources, both close by and overseas. In that perspective, we have partnered with OQGN, Oman's state-owned transmission system operator. The country has the ambition and the assets to become a leading export hub for renewable hydrogen and OQGN, like Fluxys, is a pioneer in decarbonisation projects. Together we are exploring strategic cooperation in the development of hydrogen and CO₂ infrastructure in Oman.

Key figures

Fluxys Group key figures


You can download the complete Fluxys Group annual financial report 2023 to find out more about our company's strategy, highlights of the year and financial situation.

Annual Report 2023 cover
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