New acquisition has secured Fluxys – an independent energy infrastructure group, exposure to hydrogen and CO2 transportation opportunities in Europe. Fluxys announced it will acquire Macquarie Asset Management’s 24% stake in Open Grid Europe (OGE) – the largest transmission system operator in Germany.
The Open Grid Europe is the largest gas transmission grid operator in Germany by length of the network. It manages 12,000 kilometers of pipelines network all over the country. The acquisition of Fluxys will allow the company to take part in the development of essential infrastructure for speeding up the energy transition.
Fluxys and OGE’s decarbonization projects and infrastructure developments are highly complementary which strengthens the cooperation between both companies’ subsidiaries in Belgium, Germany and Switzerland. The acquisition also presents an opportunity for Germany to create additional hydrogen import and CO2 export routes through Belgium.
Both Fluxys and Open Grid Europe are actively developing hydrogen and CO2 infrastructure connected to hydrogen import and CO2 export projects. Fluxys is committed to securing energy supply and provides energy services to the German markets through the East-West corridor in Belgium, which in its next stage is able to switch to hydrogen flows.
“Fluxys’ acquisition of a stake in OGE is a perfect strategic fit. We are excited to join forces with the co-shareholders and support OGE’s forward-looking approach to make the energy transition happen. Fostering an even more robust cooperation between our subsidiaries and OGE paves the way to further strengthen security of supply and accelerate the development of cross-border hydrogen and CO2 infrastructure and scale-up decarbonisation options for society,” commented Pascal De Buck, CEO of Fluxys.