Uniper sells 20% indirect participation in BBL pipeline
Uniper has reached an agreement with Spain´s energy company Enagas to sell its 20% participation in the Dutch BBL Company V.O.F. (BBL), owner of a 235-kilometre gas interconnection linking the UK and the Netherlands.
The undersea gas pipeline has a maximum capacity of 15 bcm/y of direct flow between Balgzand in the Netherlands and Bacton in the UK and 5 bcm/y in the reverse direction.
Divestment of this non-strategic participation is part of the remedies Uniper must fulfill under EU state aid law. On December 20th 2022 the EU Commission approved the stabilization package for Uniper under state aid law. As part of the approval, the EU Commission set out a number of structural remedies that Uniper must fulfil.
Both parties have agreed on a purchase price of approximately €75m. The agreement with Enagas is subject to regulatory approvals and the non-execution of a pre-emption right of the other interestholders in BBL.
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