Skip to main content

France to allow private investors to buy into GRTgaz gas grid

Published by
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

 STATS Group

[WEBINAR] Industry leading hot tapping and plugging technology

The webinar will explain the hydraulic deployment and setting of the plugging head, seal testing and verification, while highlighting the key advantages of the BISEP. It is expected that attendees will be able to incorporate learnings from this webinar into their upcoming pipeline maintenance or repair projects and provide valuable options that avoid temporarily shutting down the pipeline. Register for free today »

 
 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Europe pipeline news Natural gas pipeline news


 

World Pipelines is not responsible for the content of external internet sites.