Eni sells shares in North Sea Interconnector pipeline

Eni (MI:ENI, NYSE:E) has completed the sale to Fluxys and Snam for $179 million of various interests related to the Interconnector gas pipeline in the southern North Sea.

Offshore staff

MILAN, Italy – Eni (MI:ENI, NYSE:E) has completed the sale to Fluxys and Snam for $179 million of various interests related to the Interconnector gas pipeline in the southern North Sea.

These comprise 16.41% of Interconnector UK (IUK), 51% of Interconnector Zeebrugge Terminal SCRL (IZT), and 10% of Huberator. Eni will retain its transportation contracts of IUK’s capacity.

IUK owns and operates the subsea gas pipeline designed to channel gas both ways between Bacton on the English east coast and the port of Zeebrugge in Belgium.

IZT owns the terminal and compressor facilities linking the Interconnector pipeline to the Belgian gas transmission system. Huberator is operator and provider of hub services in Belgium.

8/08/2012

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