European LNG terminals owner Fluxys completes transaction for minority stake in Brazilian gas system

Wednesday, 21 April 2021
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Belgian company Fluxys, whose assets include the Zeebrugge LNG import terminal and a stake in Dunkirk LNG in France as well as the Trans-Adriatic Pipeline, has completed its purchase of minority stake in a gas system operator in Brazil.

The deal is for part of the Brazilian utility, Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG), which is the owner and operator of a 2,600-kilometres pipeline system in the southern part of the South American country linking with neighbour Bolivia.

Fluxys said the completion of the equity transfer was made by its new partner in TBG, the US fund, EIG Global Energy Partners.

“The agreement with EIG is a solid fit with Fluxys’ strategy to develop outside Europe,” said the Belgium-based company.

“The work done by Fluxys and EIG has provided a sound basis for their continued cooperation,” it added.

“Fluxys looks forward to joining the Board of TBG in its efforts to move the company ahead in its development and has set up a branch in Rio de Janeiro for managing its partnership in TBG,” Fluxys stated.

The Fluxys infrastructure group employs 1,200 people in Europe in its growing gas transmission and storage and LNG terminal businesses.

Its associated companies across Europe operate 9,000km of pipelines and its assets import 29 billion cubic metres of regasified LNG.

It is also a shareholder in the Trans-Adriatic Pipeline, the 878-kilometres transportation system bringing Caspian natural gas from Azerbaijan to Greece and Albania, and via the Adriatic Sea to Italy.

The Belgian grid operator said the partnership with TBG was an important step in the roll-out of the Fluxys overseas growth strategy.

 

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