(Aug. 3) – Today Snam and Fluxys have signed a Memorandum of Understanding for developing and marketing reverse flow capacities from south to north between Italy and the UK. With this MoU, both companies enhance their cooperation in the spirit of the EU Third Energy Package for a further integration of European gas markets. On the same day, the two companies also completed the joint acquisition of Eni’s stakes in Interconnector (UK), Interconnector Zeebrugge Terminal and Huberator. “The signing of this MoU fosters our ties with Fluxys,” commented Carlo Malacarne, Snam CEO, “which confirms to be a strategic partner supporting Snam’s international development strategy. The creation of the reverse flow capacity, as well as the completion of the acquisition of Eni’s stakes in Interconnector, Interconnector Zeebrugge Terminal and Huberator, give concreteness to a more interconnected and flexible European gas market, in line with the evolution of legislative and regulatory framework and with the needs of the gas system’s stakeholders.” (red)
