Eni has divested a 49.9% stake in certain gas pipeline-related companies. Credit: Eni.

Italian gas grid operator Snam has finalised the acquisition of Eni’s 49.9% stake in companies operating two groups of gas pipelines between North Africa and Italy for €405m.

One of the groups comprises onshore gas pipelines that run between the Algeria and Tunisia borders to the Tunisian coast (TTPC). The other group comprises offshore gas pipelines between the Tunisian coast and Italy (TMPC).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

As part of the transaction, Eni’s ownership stakes in the gas pipeline assets have been transferred to a new company called SeaCorridor.

Snam has purchased a 49.9% stake in SeaCorridor, which will operate the assets involved in the transaction. Eni has retained the remaining stake of 50.1%.

Eni’s stakes covered in the transaction include a 100% interest in the Trans Tunisian Pipeline, a 99.85% stake in Scoga, a 66.06% interest in Sergaz, and a 50% stake in the Transmediterranean Pipeline Company.

The transaction also includes Eni’s 50% stakes in Transmed and Mariconsult, and a 5% interest in Samco Sagl.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal was announced in November 2021. It has been finalised upon securing the authorisations needed from Tunisian and the approval of the shareholders and corporate bodies of several target companies.

Eni said in a statement: “The transaction leverages Eni’s and Snam’s respective areas of expertise in gas transport on a strategic route for the security of Italy’s natural gas supply, enabling potential development initiatives within the hydrogen value chain also thanks to the natural resources North Africa has to offer.”

The deal is expected to facilitate possible development initiatives within the hydrogen value chain.