France to allow private investors to buy into GRTgaz gas grid
Published by Lydia Woellwarth,
Editor
World Pipelines,
Reuters are reporting that France will allow gas utility Engie to sell part of the main French gas grid, GRTgaz, to private investors, according to a planned parliamentary bill, as the government eyes a series of possible privatisations to boost the economy.
The gas grid, which manages most French gas pipelines and storage sites, is currently 75% owned by Engie, with the remaining 25% owned by state investor Caisse des Depots and insurer CNP.
The new law will allow the state-controlled investors to jointly hold only a majority stake in GRTgaz, rather than the entire capital, according to a version of the bill cited by top French court Conseil d’Etat.
A separate, smaller French gas grid company in the southwest of the country, TIGF, is controlled by Italy’s Snam, Europe’s biggest pipeline operator, which has a strategic alliance with Belgium’s Fluxys.
President Emmanuel Macron’s government is planning several large privatisations with the proceeds already earmarked for a new €10 billion (US$11.6 billion) innovation fund.
Read the article online at: https://www.worldpipelines.com/business-news/20062018/france-to-allow-private-investors-to-buy-into-grtgaz-gas-grid/
You might also like
The World Pipelines Podcast
Juan Caballero, Chair of the AMPP Board of Directors, talks about AMPP’s global efforts to prevent corrosion and to protect assets, offering insight into how the association listens to its members and serves the pipeline industry.
Listen for free today at www.worldpipelines.com/podcasts or subscribe and review on your favourite podcast app.
FET to provide UAE-based offshore construction firm with two work class remotely operated vehicles
The Forum Energy Technologies (FET) Subsea product line has secured a contract to provide two work class remotely operated vehicles (ROVs) to CCC (Underwater Engineering) S.A.L (CCC (UE)), the UAE-based offshore construction organisation.
