Spanish gas transmission network operator Enagas has reached an agreement with RREEF Infraestructuras, a fund managed by Deutsche Asset & Wealth Management, to acquire RREEF Infraestructuras' 30% stake in Bahía de Bizkaia Gas (BBG) and Saggas, the owners of the Bilbao and Sagunto LNG regasification plants, respectively.
Enagas already operates three regasification terminals (17 bcm/year Barcelona, 11.8 bcm/year Cartagena and 11.8 bcm/year Huelva) and owns a 40% stake in the 7 bcm/year Bilbao LNG terminal; it will reach 70% of the terminal, in partnership with the Ente Vasco de la Energía (EVE, 30%). The 8.8 bcm/year Sagunto regasification plant is owned by Union Fenosa Gas with 42.5% (50-50 joint venture of Eni and Gas Natural Fenosa), RREEF Infraestructuras with 30% (sold to Enagas), Osaka Gas with 20% and Oman Oil with 7.5%. Following the acquisition, Enagas will have stakes in all Spanish regasification terminals, to the exception of Mugardos.