SEFE to become sole shareholder of gas grid operator WIGA

(Reuters) - German nationalized energy firm SEFE will take full ownership of gas transmission network WIGA by buying around half of it from joint venture partner Wintershall, in the latest sign of Berlin tightening its grip on energy infrastructure.

The deal, through which SEFE will acquire the 50.2% stake it does not already own in WIGA, is being funded via additional state aid and still needs to be approved by the EU Commission, SEFE said, adding the parties had agreed not to disclose the purchase price.

WIGA is a holding company for onshore pipelines Opal, Eugal and NEL, which are connected to the former arrival points of Russian gas via the Nord Stream 1 pipeline - defunct since an explosion in 2022 - at Lubmin on the German Baltic Sea.

"SEFE being the sole shareholder of WIGA would ensure that (gas pipeline operator) GASCADE can convert the existing high-performance infrastructure to hydrogen in the future," SEFE Chief Executive Egbert Laege said in a statement.

"Transportation infrastructure is a pivotal part of the future hydrogen value chain."

Related News


{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}