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Eni completed the sale of its 16.41% interest in Interconnector (UK) Ltd. (IUK), 51% interest in Interconnector Zeebrugge Terminal SCRL (IZT), and 10% interest in Huberator SA to Fluxys SA and Snam S.p.A.
Total consideration for the stakes amounts to €145 million (US $178 million), and Eni will retain its transportation contracts of IUK’s capacity.
IUK owns and operates the subsea gas pipeline that provides a bi-directional link between the UK (Bacton) and Belgium (Zeebrugge). IZT and Huberator are Belgian companies. IZT owns the terminal and compressor facilities linking the Interconnector pipeline to the Belgian gas transmission system, and Huberator is the operator and provider of hub services in Belgium.