Eni Sells Gas Pipelines to Fluxys for 860 Million Euros

- September 22nd, 2011

Reuters reported Eni (NYSE:ENI) has signed an agreement to sell stakes in two gas transport pipelines to Fluxys G (EBR:FLUX) for 860 million euros.

Reuters reported Eni (NYSE:ENI) has signed an agreement to sell stakes in two gas transport pipelines to Fluxys G (EBR:FLUX) for 860 million euros.

The market news is quoted as saying:

Eni, Europe’s biggest natural gas seller, holds a 49 percent stake in the TENP pipeline, which runs from the German-Dutch border to the German-Swiss border, and a 46 percent stake in Transitgas, which connects with TENP.

“The acquisition fully fits in with our strategy to facilitate and promote cross-border flows,” Fluxys Chief Executive G. Walter Peeraer said in a separate statement.

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