GASCADE signs EUGAL participation agreement
Published by Stephanie Roker,
Editor
World Pipelines,
The transmission system operators GASCADE Gastransport GmbH, Fluxys Deutschland GmbH, Gasunie Deutschland Transport Services GmbH and ONTRAS Gastransport GmbH have all signed a fractional ownership agreement for the pipeline project European Gas Pipeline Link (EUGAL).
Fluxys Deutschland, Gasunie Deutschland and ONTRAS will each receive 16.5% of the shares in the project and future pipeline. GASCADE will retain a 50.5% stake and remain in charge of the project. The partners have agreed that GASCADE will continue to manage the building process of the pipeline and will operate it in the future.
EUGAL will extend over a length of some 485 km, running from the Baltic Sea through Mecklenburg-Western Pomerania and Brandenburg to southern Saxony and from there over the border to the Czech Republic. “The project is fully on schedule – we aim to complete EUGAL’s first string as early as the end of 2019,” states Chief Project Manager Ludger Hümbs.
Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/23102017/gascade-signs-eugal-participation-agreement/
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