Düsseldorf,
16
January
2023
|
09:02
Europe/Berlin

Uniper sells 20% indirect participation in BBL pipeline

Summary
  • Uniper sells 20% indirect participation in BBL Company V.O.F. to Enagas
  • Divestment of this participation is part of the remedies Uniper must fulfill under EU state aid law

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.

About Uniper

Düsseldorf-based Uniper is an international energy company with activities in more than 40 countries. With around 7,000 employees, it makes an important contribution to security of supply in Europe. Uniper’s core businesses are power generation in Europe, global energy trading, and a broad gas portfolio. Uniper procures gas – including liquefied natural gas (LNG) – and other energy sources on global markets. The company owns and operates gas storage facilities with a capacity of more than 7 billion cubic meters. Uniper plans for its 22.5 GW of installed power-generating capacity in Europe to be carbon-neutral by 2035. The company already ranks among Europe’s largest operators of hydroelectric plants and intends to further expand solar and wind energy, which are essential for a more sustainable and autonomous future. 

Uniper is a reliable partner for communities, municipal utilities, and industrial enterprises for planning and implementing innovative, lower-carbon solutions on their decarbonization journey. Uniper is a hydrogen pioneer, is active worldwide along the entire hydrogen value chain, and is conducting projects to make hydrogen a mainstay of the energy supply. 

Boilerplate

This press release may contain forward-looking statements based on current assumptions and forecasts made by Uniper SE management and other information currently available to Uniper. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Uniper SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.