Endesa may swap gas assets
Spain’s Endesa is prepared to trade shares in two Portuguese gas distributors with Portugal’s EdP in return for other Portuguese assets, Endesa’s c.e.o. said in a press interview in Madrid. “Being (in gas distributors) in Setubal and Oporto is not strategic for us, we could change those stakes for other assets,” Rafael Miranda said. Endesa holds nearly 50% of the firm that controls 25% of gas distributors
Portgas in Oporto and Setgas in Setubal. Recently EdP agreed with energy firm Galp, in which it holds a stake, to buy an option for 46% of Portgas and 45% of Setgas as part of EdP’s strategy to buy gas assets. One of the main features of the current restructuring of Portugal’s state-controlled energy sector is the emergence of EdP as the dominant and integrated power and gas utility. DM
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