France's NaTran and Teréga and Spain's Enagás launch hydrogen pipeline joint venture for H2med project

This major new step, coming one year after the signing of a Joint Development Agreement in June 2024, provides a clear structure and accelerates the implementation of this essential component of the European Union's first clean hydrogen corridor, which aims to cover 10% of Europe's hydrogen consumption by around 2030.

The new company, which will be based in the South of France, in Région Provence-Alpes-Côte d'Azur, defines the project's governance structure. The shareholding is distributed as follows: EIH-Enagás with 50%, NaTran with 33.3%, and Teréga with 16.7%. This split reflects the overall balance of the H2med project, which is shared 50% by Spain and 50% by France. Mr. Francisco Pablo de la Flor, from Enagás, has been appointed as the new entity's Chief Executive Officer (CEO).

This pivotal milestone is announced eight days after European support was reconfirmed during a high-level meeting between the leaders of the five companies involved in the H2med project and the Executive Vice-President of the European Commission, Ms. Teresa Ribera, who oversees the Green, Just and Competitive Transition.

The project's momentum is further solidified by the recent signing of Grant Agreements with the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the BarMar and CelZa (Celorico–Zamora) projects. The funding secured represents 100% of the funds requested under the Connecting Europe Facility (CEF) and covers 50% of the development costs. These funds are crucial for launching the engineering studies, marine reconnaissance surveys, and environmental impact assessments required for the permitting process.

Arturo Gonzalo, CEO of Enagás, commented: “The creation of this joint company embodies our collective commitment and determination to deliver this vital energy infrastructure for Europe. This marks the beginning of a new operational phase that will allow us to tackle the technical and regulatory challenges with an integrated team and a common goal: making H2med a reality.”

Sandrine Meunier, CEO of NaTran, said: “This new joint company provides the necessary framework for the long-term development of the BarMar hydrogen pipeline, a key component of the H2med project. It also gives concrete form to cross-border cooperation in developing strategic energy infrastructure to decarbonize our industries. Based in France, the BarMar company is now a place where all partners' expertise in hydrogen transport will converge to foster a new phase of Europe’s energy."

Carolle Foissaud, CEO of Teréga, commented: “The announcement of the BarMar company anchors H2med at the heart of Europe's energy sovereignty and enables the achievement of carbon neutrality goals. The European funding testifies to the confidence placed in our joint expertise. Along its partners, Teréga is fully mobilised to make this European clean hydrogen corridor a success for the decarbonisation of our industries and regions.”

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