Italy’s Gas Grid Further Consolidates

摘要

Italy’s natural gas distribution market has further consolidated following two large divestments from companies operating in the central and southern provinces of the country. Italian natural gas distribution firm Italgas wholly purchased H2C subsidiary Enerco Distribuzione, which owns 800 km of natural gas pipelines in Italy’s Padua and Vicenza provinces and supplies gas to 30,000 customers. Enerco’s assets were valued at ?51 million ($60.1 million), which will be paid by Italgas in cash once the transaction is closed. The deal is expected to close by the end of the year, subject to meeting certain requirements from H2C. Italgas spun off from Italian gas transmission operator Snam and listed in late 2016.