[the_ad id="121217"]

popular articles

Criteria abandons joint acquisition of Naturgy with TAQA

Criteria announces the end of negotiations with TAQA for a joint bid for Spanish gas giant Naturgy, reaffirming its commitment to support.
Acquisition Naturgy Criteria TAQA

Please share:

Spanish holding company Criteria has announced the end of discussions with Abu Dhabi National Energy Company (TAQA) regarding a possible joint bid to acquire Naturgy, Spain’s leading gas company. This decision marks an important turning point in the Spanish energy landscape, where mergers and acquisitions are frequent but rarely successful.
Criteria, which owns 26.7% of Naturgy, stated that no agreement had been reached with TAQA. According to El Mundo newspaper, TAQA has decided to withdraw from the joint bid, citing sources close to the discussions.

Criteria strategy and future commitments

Following the negotiations, Criteria reaffirmed its commitment as a long-term investor in Naturgy’s industrial project. The company is now exploring new options to support Naturgy’s transformation plan, signaling a willingness to continue playing a key role in the company’s evolution.
Naturgy, for its part, declined to comment on the situation, and TAQA did not immediately respond to requests for comment. Naturgy’s main shareholders, private equity funds CVC and GIP, each owning more than 20%, also declined to comment on the abandonment of the offer.

Implications for the European gas market

TAQA initially saw this acquisition as a major strategic opportunity. In addition to the Spanish assets, the deal would have included supply contracts with Algeria and a long-term contract to import 3 billion cubic meters of Russian liquefied natural gas (LNG) each year. With Naturgy’s market value reaching 24.3 billion euros, this would have been one of the largest takeovers by a sovereign wealth fund.
This failure underlines the complexity of major M&A operations in the energy sector, particularly when diverse and international interests are at stake. Market players are keeping a close eye on TAQA’s and Criteria’s next strategic moves, in anticipation of future developments that could redefine the European energy landscape.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Gas consumption in Germany falls for the second consecutive year
EU’s Energy Security Strengthened: Gas Storage Surpasses Targets Before Winter
EU’s Energy Security Strengthened: Gas Storage Surpasses Targets Before Winter
The EU Invests in a New Gas Corridor to Secure LNG Supply from the U.S.
The EU Invests in a New Gas Corridor to Secure LNG Supply from the U.S.
Liquefied natural gas (LNG) prices in the Eastern Mediterranean are falling, impacted by weak European demand and reduced shipping costs while gas reserves remain high.
Liquefied natural gas (LNG) prices in the Eastern Mediterranean are falling, impacted by weak European demand and reduced shipping costs while gas reserves remain high.
[the_ad id="121209"]
[the_ad id="121211"]
Finnish court orders the seizure of Russian assets in response to a request by the Ukrainian company Naftogaz, as part of enforcing a $5 billion arbitration award for losses in Crimea.
As India's demand for natural gas surges rapidly, domestic production remains insufficient, pushing the country to increase its reliance on imports to secure its energy future.
As India's demand for natural gas surges rapidly, domestic production remains insufficient, pushing the country to increase its reliance on imports to secure its energy future.
Baker Hughes will supply Petrobras with 77 km of flexible pipes to develop oil and gas reserves in the Santos Basin, a strategic area off Brazil's coast. This partnership strengthens Brazil's energy autonomy.
Baker Hughes will supply Petrobras with 77 km of flexible pipes to develop oil and gas reserves in the Santos Basin, a strategic area off Brazil's coast. This partnership strengthens Brazil's energy autonomy.
Kuwait is committed to reducing greenhouse gas emissions and achieving carbon neutrality by 2050. The plan integrates an increase in liquefied natural gas (LNG) imports, an extensive carbon capture project, and the development of electric vehicle infrastructure.
Kuwait is committed to reducing greenhouse gas emissions and achieving carbon neutrality by 2050. The plan integrates an increase in liquefied natural gas (LNG) imports, an extensive carbon capture project, and the development of electric vehicle infrastructure.
[the_ad id="121213"]
[the_ad id="121214"]
With increasing sanctions against Russian LNG, an evasion ecosystem is emerging in various global hubs, fostering transactions in local currencies and a parallel trade network.
Ukraine on the Verge of Winter: Insufficient Gas Reserves Face Consumption Challenges
Ukraine on the Verge of Winter: Insufficient Gas Reserves Face Consumption Challenges
Turkmenistan is intensifying efforts to extinguish the burning Darvaza crater, a major source of methane emissions for 50 years, strengthening its environmental policy against climate change.
Turkmenistan is intensifying efforts to extinguish the burning Darvaza crater, a major source of methane emissions for 50 years, strengthening its environmental policy against climate change.
GTT's revenue reached 465 million euros in the first nine months of 2024, up 54.9%. This growth is driven by strong LNG demand, fueling orders for LNG carriers to meet global needs.
GTT's revenue reached 465 million euros in the first nine months of 2024, up 54.9%. This growth is driven by strong LNG demand, fueling orders for LNG carriers to meet global needs.
France: CGT warns of 2,200 job cuts at GRDF by 2028
Shell Energy acquires a 609 MW combined-cycle power plant in the ISO New England energy market, further strengthening its position in the U.S. gas and electricity sector.
Shell Energy acquires a 609 MW combined-cycle power plant in the ISO New England energy market, further strengthening its position in the U.S. gas and electricity sector.
Germany's SEFE has concluded a gas purchase deal with U.S. company ConocoPhillips for the delivery of 9 billion cubic meters of gas over 10 years, as part of a new business partnership.
Germany's SEFE has concluded a gas purchase deal with U.S. company ConocoPhillips for the delivery of 9 billion cubic meters of gas over 10 years, as part of a new business partnership.
France assures it has the necessary infrastructures to meet its gas needs this winter while supporting its European neighbors, despite potential drops in temperatures.
France assures it has the necessary infrastructures to meet its gas needs this winter while supporting its European neighbors, despite potential drops in temperatures.
[the_ad id="121219"]
Singapore launches a new liquefied natural gas (LNG) terminal of 5 million tons per year at Jurong Port. This floating facility enhances flexibility and strengthens the country's energy supply.
LNG Freight Rates Hit Multiyear Lows Amid Weak Demand
LNG Freight Rates Hit Multiyear Lows Amid Weak Demand
The Matterhorn Express pipeline, inaugurated in September 2024, revolutionizes natural gas transportation in the Permian Basin, enhancing producers' profitability and stabilizing gas prices at the Waha hub.
The Matterhorn Express pipeline, inaugurated in September 2024, revolutionizes natural gas transportation in the Permian Basin, enhancing producers' profitability and stabilizing gas prices at the Waha hub.
Iraq, among the largest emitters of flaring, is seeking to attract Western investors to develop its gas sector and decrease harmful emissions.
Iraq, among the largest emitters of flaring, is seeking to attract Western investors to develop its gas sector and decrease harmful emissions.
Venture Global LNG informs Edison SpA of a delay in deliveries until April 2025, resulting in significant financial and contractual repercussions for both parties.
On October 15, the Energos Princess carrier unloaded at the Gate terminal in the Netherlands the first shipment of liquefied natural gas (LNG) exported by Mexico to Europe, marking a significant milestone in the energy sector.
On October 15, the Energos Princess carrier unloaded at the Gate terminal in the Netherlands the first shipment of liquefied natural gas (LNG) exported by Mexico to Europe, marking a significant milestone in the energy sector.
OX2 has acquired its first onshore wind power project in Australia, planning a capacity of 1 GW and integrating a battery energy storage system. Located north of Perth, this project marks a key milestone in the company's expansion in the Australian market.
OX2 has acquired its first onshore wind power project in Australia, planning a capacity of 1 GW and integrating a battery energy storage system. Located north of Perth, this project marks a key milestone in the company's expansion in the Australian market.
The energy ministries of Israel and Cyprus are discussing a historic agreement for the export of natural gas, marking the first sale of Israeli gas in Europe via a pipeline.
The energy ministries of Israel and Cyprus are discussing a historic agreement for the export of natural gas, marking the first sale of Israeli gas in Europe via a pipeline.

Advertising