ENI Completes the Sale of its Participations in Transitgas and TENP Gas Pipelines

Source Press Release
Company ENI S.p.A. 
Tags Asset Deals, Deals, Pipelines/ tankers/ distribution
Date November 30, 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.

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