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Eni completes the sale of its participations in Transitgas and TENP gas pipelines

30 November 2011 1:25 PM CET

San Donato Milanese (Milan), 30 November 2011 – Today, Eni has finalized the agreements signed with Fluxys G and announced on 22 September for the sale of its participations in Transitgas and TENP gas pipelines. The agreements involve the sale of 100% of Eni’s shares in Eni Gas Transport International SA and 46% of Transitgas AG ("Transitgas system"), as well as 100% of both Eni Gas Transport Deutschland SpA and Eni Gas Transport GmbH. The latter owns 49% of Trans Europa Naturgas Pipeline KG and 50% of Trans Europa Naturgas Pipeline GmbH ("TENP system").

The sale is part of the commitment made to the European Commission on the 29 September 2010 and will raise a total of approximately 1,068 million Swiss Francs for Eni’s participation in the Transitgas system and around 60 million Euros for its participation in TENP system.

Ship-or-Pay contracts between Eni and both Eni Gas Transport International and Eni Gas Transport Deutschland remain in place.

Download the press release (PDF)

PDF 26.17 KB 30 November 2011 CET 13:25
PDF 26.17 KB