Fluxys Plans For Expansion

Fluxys, which operates Belgium's network of natural gas pipelines, is reported to be in negotiations to acquire stakes in Eni's gas pipelines.

Eni is selling the stakes as part of an antitrust proceedings settlement with the European Commission. Fluxys would be buying Eni's stakes in the TENP and Transitgas pipelines.

Reuters cites a Fluxys' majority shareholder as saying that the Belgian based company is in final negotiations to conclude a deal expected to be valued at between 700 and 800 million euros.

It would make Fluxy a major force in European gas transport infrastructure, giving it pipelines extending from Belgium to Italy via Germany and Switzerland and helping it to take on its biggest rival, Dutch-based Gasunie.

A formal announcement could be made at the end of August.