MADRID, Feb 17 (Reuters) - Spain's Enagas is open to acquiring regulated energy assets in Europe that match the utility's shift towards hydrogen infrastructure, support security of supplies and don't
Enagas Considers European Asset Acquisitions to Boost Hydrogen Strategy
Enagas' Strategic Shift Towards Hydrogen
MADRID, Feb 17 (Reuters) - Spain's Enagas is open to acquiring regulated energy assets in Europe that match the utility's shift towards hydrogen infrastructure, support security of supplies and don't affect dividend policy and credit ratings, its CEO said on Tuesday.
In recent years, the company has sold assets in the United States, Chile and Mexico as it refocused on Spain and Europe. It has also cut dividends and debt to fund its planned shift into managing hydrogen infrastructure.
Reuters reported in October that Enagas held talks to acquire Singapore sovereign wealth fund GIC's 32% stake in Terega, its partner in a planned Spain-France hydrogen pipeline. The companies already operate gas pipeline connections between the two countries.
Potential M&A Operations
Deploying Enagas' investment plan while maintaining its dividend policy and credit ratings was a priority, Chief Executive Arturo Gonzalo said.
Still, Enagas would consider M&A operations in line with its strategy.
Investment Plans and Dividend Policy
"If these conditions are met, then we can explore opportunities in regulated assets in Europe that fit well within this framework," he said in response to a query on whether the company had been in talks to buy a stake in Terega, France's second-largest gas transmission operator.
"We have no announcements to make in this regard, but within that possibility, Terega is a great company. We know them well, we are partners in our daily operations and in major projects, and it could meet our requirements."
(Reporting by Pietro Lombardi; Editing by Bernadette Baum)
