Fluxys and Enagás close transfer of Swedegas

Belgian and Spanish natural gas infrastructure companies Fluxys and Enagás have closed the joint sale to FS Gas Transport AB of their total stake in Swedegas, owner and operator of the high-pressure gas grid in Sweden.

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. Both companies, each owning a 50% stake in Swedegas, agreed to this proposal in September and the transaction was closed today upon approval by the Swedish Competition Authority. Fluxys and Enagás closed the sale for an amount of 1,033 million Swedish Krona (SEK) each, around 100 million euros at the current exchange rate.

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. The company also is a frontrunner in the transmission of low-carbon gas and has successfully completed preparations for a joint balancing zone with Denmark.
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