Sabadell | Blackstone Infrastructure Partners (29% Enagas) has launched a non-binding offer to increase its holding in the US Tallgrass from 44% to 100%, which would mean that Enagas would go from 12.5% to 25% indirect if it decides to participate, which has still not been decided.
Santander Corporate & Investment | The Ministry of Ecological Transition has published its response to the regulator´s (CNMC) proposals for changes to the rules on the gas and electricity transportation and distribution networks and gas storage installations. Based on the four documents presented in CNMC before the 9 August deadline, the Ministry values the regulator´s proposals favourably.
For the ratings agency, the reforms the Spanish regulator wants to carry out include a significant change in methodology which means less income for the companies in the sector in 2021-2026.
Spanish regulator (CNMC) is preparing new regulations which will lead to a greater than expected cuts in the returns for natural gas transportation and distribution networks and also, possibly, for electricity distribution networks.
Alphavalue | The Spanish government prepares measures to block corporate operations among listed companies in which the State has a stake.
The ratings agency Fitch Ratings has upgraded its short term rating for Enagás (ENG) and Enagás Financiaciones S.A.U from “F2” to “F1”’, applying its new short methodology for short term ratings.
Link Securities | The President of Enagás, Antonio Llardén, qualified last week´s agreement with Blackstone to enter the US market as a historical milestone for the Spanish company in putting Enagás on the global chess board of gas infrastructure.
The Spanish gas system operator, Enagas, is exploring its options of buying shares in the US listed company Tallgrass Energy. According to various sources in the sector, the public company, whose main shareholder is the state through SEPI, has been working discreetly on this operation since last November. In any case, the process is at a preliminary stage, and there are others interested in the US company.
Enagas and Reganosa, who were unable to integrate in Spain, have signed an agreement to present themelves jointly ain the tendering process for the operation and maintenance services for one of the largest Liquid Natural Gas (LNG) in the Al-Zour refinery in Kuwait.
Santander | The arrival of the new government in Spain is good news for the gas and electricity markets, given that it is probable that it will respect the regulatory periods; it appears more focused on the spirit of the law (“fair returns”) than on the application of methodologies (differential over 10 year bonds) and it has the intention of reinforcing the role of the CNMC as an independent regulator.