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Snam, Enagas and Fluxys close acquisition of DESFA

Published by , Senior Editor
World Pipelines,

The European consortium formed by Snam (60%), Enagás (20%) and Fluxys (20%) today completed the acquisition of a 66% stake in DESFA, the operator of Greek natural gas transport network, to the Assets Development Fund of the Republic Hellenic (HRADF) and Hellenic Petroleum, for an amount of €535 million. 

The consortium, which won the tender for the privatisation of DESFA in April 2018, has closed the purchase through the new company Senfluga Energy Infrastructure Holdings. The consortium has obtained financing without recourse for more than 10 years, corresponding to approximately 65% ??of the value of the company.

The regulated company DESFA owns and operates a transport network of about 1500 km of high pressure gas pipelines and a regasification plant in Revithoussa. Greece is an enclave fundamental for the diversification of the energy supply in Europe and for the opening of new natural gas routes in the continent, which positions the country as a potential gas hub in the southeast of Europe.

Thanks to the support of Snam, Enagás and Fluxys, three of the most important European infrastructure companies committed to the creation of the Energy Union, DESFA will be able to appreciate its position strategic position in the Mediterranean, which will contribute to the growth of the country. 

The consortium also will promote new uses of natural gas in Greece, will promote the introduction of renewable gases such as biomethane to create a sustainable energy system, and will actively contribute to the reduction in the country of polluting emissions and greenhouse gases.

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Europe pipeline news Mediterranean pipelines