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Enagás finalizes $1B deal with Blackstone for Tallgrass Energy stake

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BAKU, Azerbaijan, July 10. Enagás has announced
an agreement to sell its 30.2% stake in American company Tallgrass
Energy to Blackstone Infrastructure Partners for $1.1 billion
(approximately 1.018 billion euros at the current exchange rate),
Trend reports.

According to the company, the deal is expected to close by the
end of July. However, $50 million of the agreed amount will be
received once ongoing administrative authorization is obtained.

This sale is part of Enagás’s asset rotation strategy outlined
in its 2022-2030 Strategic Plan, which prioritizes decarbonization
and security of supply in Spain and Europe. Despite generating an
accounting loss of around 360 million euros in the 2024 income
statement, the transaction will have a positive impact on the
company’s cash flow due to the significant cash influx from the
divestment.

By divesting its stake in Tallgrass Energy, Enagás strengthens
its balance sheet, allowing it to confidently execute its
investment plan in renewable hydrogen infrastructure. This plan is
part of the European Union’s Projects of Common Interest and aligns
with the Royal Decree-law 8/2023, which designates Enagás as the
provisional manager of the Hydrogen Backbone Network.

This transaction supports Enagás’s dividend policy and enhances
its long-term sustainability.



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