Fluxys invests in Germany's Open Grid Europe

Belgium-based energy infrastructure group Fluxys has inked a deal with Macquarie Asset Management to take a stake of about 24% in Germany-based gas transmission system operator Open Grid Europe GmbH (OGE) as part of its push to support the energy transition in Europe.

The Belgian firm will take the 23.6% interest held by Macquarie European Infrastructure Fund 4, alongside a 0.5% interest owned by Halifax Regional Municipality Master Trust. Financial details were not provided.

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OGE owns and operates a regulated natural gas transmission system comprising a 12,000-kilometre (7,456 miles) gas pipeline network transporting gas throughout Germany and to neighbouring European countries. The company is currently also working on hydrogen and biogas projects as well as on building a CO₂ pipeline system.

“Fostering an even more robust cooperation between our subsidiaries and OGE paves the way to further strengthen security of supply and accelerate the development of cross-border hydrogen and CO2 infrastructure and scale-up decarbonisation options for society," said Fluxys’ CEO Pascal De Buck.

The acquisition of the minority shareholding is set to close by the end of March 2023, subject to regulatory clearances.