On August 7, Hellenic Republic Asset Development Fund (HRADF) announced that six investment schemes expressed their interest to acquire 66% (31% stake owned by HRADF and 35% stake owned by HELPE) of the Hellenic Gas Transmission System Operator S.A.’s (DESFA’s) share capital. Investors include companies from Italy, the Netherlands, Spain, the United States, Romania and Qatar.
In particular, Expressions of Interest were submitted by: Macquarie Infrastructure and Real Assets (Europe) Limited; Snam S.p.A./ Enagás Internacional S.L.U./ Fluxys S.A./ N.V. Nederlandse Gasunie; Transgaz S.A. / GRTgaz S.A; Regasificadora del Noroeste S.A; Integrated Utility Services Inc. (INTUS); Powerglobe LLC.
HRADF said the Fund’s advisors would evaluate the aforementioned Expressions of Interest and submit to HRADF’s Board of Directors their recommendation regarding the candidates that qualify for the next phase of the tender.
Profile of interested investors:
A. Consortium consisting of Snam S.p.A. (Lead Member), Enagas International S.L.U., FLUXYS S.A. and N.V. Nederlandse Gasunie.
Snam S.p.A. (50% participation to the consortium) operates in Italy through its 3 wholly owned subsidiaries respectively dedicated to transmission and dispatching, storage, and regasification of natural gas (namely Snam Rete Gas S.p.A which is Italy’s TSO, is an ENTSO-G member, and certified under Full Ownership Unbundling, Stogit S.p.A., and GNL Italia S.p.A). Snam is a shareholder in TAP and has participations in various TSOs around Europe. Enagás Internacional, S.L.U. (16.7% participation to the consortium) is a wholly owned subsidiary of Enagás S.A., which is acting as holding company of a group carrying out activities within the development, construction, maintenance and operation of gas infrastructures (transmission, underground storage and LNG plants). Enagás S.A. is an ENTSO-G member, while its 100% subsidiary Enagás Transporte S.A.U. has been certified under Full Ownership Unbundling for its own network. It holds a participation in TAP. FLUXYS S.A. (16.7% participation to the consortium) is a Belgium-based, fully independent gas infrastructure group operating in the European market. The FLUXYS group is a major gas transit operator with ownership in various ENTSO-G member TSO’s around Europe and its activities include gas transmission, gas storage and terminalling of LNG. Fluxys S.A. operates its transmission networks through the Full Ownership Unbundling regime. It holds a participation in TAP. N.V. Nederlandse Gasunie is a leading gas infrastructure company which owns and operates various natural gas infrastructure assets in North Western Europe. Its fully owned subsidiaries Gasunie Gas Transport Services B.V. (in the Netherlands) and Gasunie Deutchland Transport Services GmbH (in Germany) have been certified under the Full Ownership Unbundling model and are ENTSO-G members.
B. Regasificadora del Noroeste S.A.
Regasificadora del Noroeste S.A. is headquartered in Mugardos, Spain. Reganosa is a Spanish gas TSO and ENTSOG member that engages in the transmission and regasification of natural gas. It transports natural gas throughout the Spanish Northwest by operating 130 km of Spain’s national core pipeline network and also operates the Mugardos LNG terminal. Regasificadora del Noroeste S.A. operates under the Full Ownership Unbundling model.
C. Integrated Utility Services Inc.
Integrated Utility Services Inc. is a USA-based company which provides technological services in relation to fiber optic cables, power lines, gas mainline pipes, sewer, water and other facilities. They serve as the financial and economic development partner in a consortium expected to be formed.
D. The Consortium of Transgaz S.A. (Lead Member) and GRTgaz S.A.
Transgaz S.A. is Romania’s TSO, certified under the ISO model. Transgaz operates a pipe network of total length 13,000 km. Transgaz’s gas transmission network is connected to Bulgaria, Hungary, Moldova and Ukraine. GRTgaz, is a French TSO, certified under the ITO model. It is headquartered in Bois-Colombes, France. GRTgaz S.A. is one of the European leaders in the natural gas transmission and owns and operates 32,456 km of buried pipes and 28 compression stations for the shipping of gas between suppliers and consumers.
E. Macquarie Infrastructure and Real Assets (Europe) Limited
Macquarie Infrastructure and Real Assets (Europe) Limited is a fully owned subsidiary of Macquarie Group Limited and is the largest manager of infrastructure investments that globally manages a diverse portfolio which includes electricity and gas transmission and distribution networks among others. Macquarie through its funds has a controlling stake in Societa Gasdotti Italia (SGI), which is an Italian gas transmission system operator ENTSO-G member operating under the Full Ownership Unbundling model, as well as investments in Eustream A.S. (Slovakia) and Open Grid Europe GmbH.
F. POWERGLOBE LLC
PowerGlobe LLC is a Qatar-based consulting company, which provides a wide array of services in the energy and gas. PowerGlobe LLC targets to use the Qatar Financial Center to explore exclusive energy advisory and consulting services for Qatari and International corporations and governmental organizations, which are in the business of developing large-scale natural gas-to- power or/and LNG-to-power projects across Middle East, MENA, Asia, Africa and Europe.