Fluxys and Enagas to acquire a 5% stake in Trans Adriatic Pipeline from Axpo for €210m.

Fluxys, a natural gas transmission system operator, and Enagas, an energy company, agreed to acquire a 5% stake in Trans Adriatic Pipeline, a major energy infrastructure project that involves the construction and operation of a natural gas pipeline from Axpo, a producer of renewable energy, for €210m. “Axpo continues to pursue its three-pillar business strategy, focusing on our Swiss business, renewable energies and trading & origination. While the company has decided to transfer its stake in the project, TAP will remain a strategic partner for us, as Axpo Solutions AG will continue to market for the long-term gas volumes secured from the Shah Deniz consortium. In the current international context and considering the historically tight market conditions during the summer of 2022, supply security and diversification across gas supply chains remain key priorities for Switzerland and Europe as a whole. Gas transported via TAP provides a much-needed new energy source for households and businesses alike, also boosting security of supply for Swiss consumers.” Joris Gröflin, Axpo CFO.