SUBSCRIBE
PROFILE

Enagas sells its stake in Tallgrass Energy for 1 billion euros

Spanish gas group Enagas sells its 30.2% stake in Tallgrass Energy to finance its green hydrogen projects, reinforcing its plans to invest in renewable hydrogen infrastructure.

Share:

Enagas vend Tallgrass Energy

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90€/month

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99€/year

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Sign up for free to unlock this article

Enagas, Spain’s gas network operator, has announced the sale of its 30.2% stake in Tallgrass Energy to US investment firm Blackstone for $1.1 billion (€1.018 billion). This transaction is part of a strategy to finance the development of green hydrogen projects, essential to the company’s energy transition.

Divestment strategy and focus on hydrogen

Enagas has decided to sell its US assets to refocus on Europe and strengthen its investments in renewable hydrogen infrastructure. The sale to Blackstone, already a shareholder in Tallgrass Energy, is expected to be finalized by the end of July, resulting in a book loss of 360 million euros for Enagas in 2024. However, the impact on earnings could become positive from 2025 onwards, according to financial analyst Fernando Garcia of RBC.

Financial implications and long-term outlook

Enagas had originally acquired its stake in Tallgrass for $1.64 billion in 2019, in partnership with Blackstone and Singapore sovereign wealth fund GIC. The current divestment, while generating an immediate loss, enables Enagas to focus on strategic projects such as the H2Med trans-European corridor. This initiative is supported by the Spanish government’s plans to develop green hydrogen production.

Increased investment in hydrogen

The group is planning a net investment of around 3.2 billion euros between now and 2030 to develop its hydrogen transport network in Spain. This transition is crucial for Enagas, whose regulated hydrogen assets should reach a value of 3 billion euros by the end of the decade, surpassing natural gas assets valued at around 2 billion euros.

Dividend cuts and stock market impact

To finance these ambitious investments, Enagas has also announced a reduction in its dividend for the next three years. Despite this news, Enagas shares were up 3.9% in early trading on Wednesday, reflecting investor confidence in the company’s new strategic direction.
Thus, the sale of Tallgrass Energy to Blackstone is part of a broader strategy of divestment and reorientation towards renewable hydrogen projects, positioning Enagas as a key player in Europe’s energy transition.

  • Popular on energynews.pro
Ecoener commissions Guatemala’s largest solar plant with 74.7 MWp
NextDecade signs 20-year LNG deal with EQT for 1.5 MTPA from Train 5
Tenergie begins construction of 5.14 MWp solar plant in Cabrières d’Avignon
Lhyfe begins green hydrogen deliveries in the Netherlands for the GROHW project
Teréga and GRDF deploy new biomethane backfeed station in Moncrabeau
GTT wins contract for LNG tanks on floating unit in Africa
GTT has been selected by Samsung Heavy Industries to design cryogenic tanks for a floating natural gas liquefaction unit, scheduled for deployment at an offshore site in Africa.
BlackRock and partners target $10.3 billion for Aramco gas deal financing
A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.
TotalEnergies strengthens its presence in the United States with Rio Grande LNG Train 4
TotalEnergies commits to Train 4 of the Rio Grande LNG project in Texas, consolidating its position in liquefied natural gas with a 10% direct stake and a 1.5 Mtpa offtake agreement.
EQT signs 20-year deal for 1 Mtpa LNG with Commonwealth LNG
US producer EQT has secured a twenty-year liquefied natural gas supply contract with Commonwealth LNG, tied to a Gulf Coast terminal under development.
TotalEnergies confirms imminent investment decision for new LNG train in Texas
The Chief Executive Officer of TotalEnergies said that NextDecade would formalise on Tuesday a final investment decision for a new liquefaction unit under the Rio Grande LNG project in the United States.
McDermott wins major contract for $25bn gas liquefaction unit in Louisiana
Monkey Island LNG has awarded McDermott the design of a gas terminal with a potential capacity of 26 MTPA, using a modular format to increase on-site output density and reduce execution risks.
Two sanctioned Russian LNG carriers deliver to China despite restrictions
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.
ADNOC Gas joins FTSE Emerging Index, unlocking up to $250mn in investments
ADNOC Gas will join the FTSE Emerging Index on September 22, potentially unlocking up to $250mn in liquidity, according to market projections.
BlueNord lowers Tyra production guidance for Q3 2025
Norwegian company BlueNord has revised downward its production forecasts for the Tyra gas field for the third quarter, following unplanned outages and more impactful maintenance than anticipated.
Monkey Island LNG integrates ConocoPhillips technology in strategic agreement
Monkey Island LNG adopts ConocoPhillips' Optimized Cascade® process for its 26 MTPA terminal in Louisiana, establishing a technology partnership focused on operational efficiency and competitive gas export pricing.
Sawgrass LNG extends supply contract with Barbados until 2030
Sawgrass LNG & Power has renewed its liquefied natural gas supply agreement with state-owned BNECL, consolidating a commercial cooperation that began in 2016.
Gazprom and CNPC seal binding agreement for the Power of Siberia 2 project
Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.
Permex Petroleum secures option to acquire 50 wells to power Bitcoin mining
Permex Petroleum signed a $3 million purchase option on oil and gas assets in Texas to support a strategy combining energy production and Bitcoin mining.
Enbridge deploys two new gas projects for 2.8 Bcf/d in the United States
Enbridge announces the implementation of two major natural gas transmission projects aimed at strengthening regional supply and supporting the LNG market.
Commonwealth LNG secures final non-FTA export authorization
Commonwealth LNG’s Louisiana liquefied natural gas project clears a decisive regulatory step with final approval from the U.S. Department of Energy for exports to non-free trade agreement countries.
Indonesia secures supply of 10 LNG cargoes for September
The Indonesian government confirmed the delivery of nine to ten liquefied natural gas cargoes for domestic demand in September, without affecting long-term export commitments.
Egypt commits $343mn to new gas drilling to support supply
The Egyptian government signs four exploration agreements for ten gas wells, allocating $343mn to limit the impact of the rapid decline in national production.
Hungary receives over 5 bn m³ of Russian gas via TurkStream in 2024
Hungary has imported over 5 billion cubic metres of Russian natural gas since January via TurkStream, under its long-term agreements with Gazprom, thereby supporting its national energy infrastructure.
United States clears Rio Grande and Commonwealth LNG toward final decisions
U.S. regulators have approved two major milestones for Rio Grande LNG and Commonwealth LNG, clarifying their investment decision timelines and reinforcing the country’s role in expanding global liquefaction capacity.
Hokkaido Gas readies 2027: LNG tender and volumes
Hokkaido Gas is adjusting its liquefied natural gas procurement strategy with a multi-year tender and a long-term agreement, leveraging Ishikari’s capacity and price references used in the Asian market. —

Log in to read this article

You'll also have access to a selection of our best content.