Uniper sells stake in BBL pipeline to Spain's Enagas for $81 mln

Fluxys Belgium SA

16/01/2023 08:38

Jan 16 (Reuters) - German utility Uniper  UN01.DE  said
it has agreed to sell its 20% stake in the BBL gas pipeline
which links Britain with the Netherlands to Spanish grid
operator Enagas  ENAG.MC  for 75 million euros ($81 million).
    BBL, which runs a 235-kilometre pipeline with an hourly
capacity of 20,600,000 kilowatt hours per hour, is 60%-owned by
Dutch grid operator Gasunie  GSUNI.UL  and 20%-owned by
Belgium's Fluxys  FLUX.BR .
    The purchase price values BBL at around 375 million euros.
    The sale of the stake in BBL is part of a package of
remedies required by the European Commission in exchange for
approval of Uniper's bailout and subsequent nationalisation
agreed late last year.
    Uniper has been one of the largest corporate casualties of
Europe's energy crisis, as the gas importer struggles to cover
losses incurred after Russia cut off gas supplies.
    ($1 = 0.9247 euros)
 (Reporting by Matteo Allievi, Inti Landauro and Christoph
Steitz; editing by Jason Neely)
 ((matteo.allievi@thomsonreuters.com;))