GIP, Fluxys in JV for Transitgas AG

Fluxys Switzerland, through its fully owned subsidiary FluxSwiss, has an equity interest of 46% in Transitgas AG, asset owner of the Transitgas pipeline ("Transitgas"). As transmission system operator, FluxSwiss also has the right to market 90% (or c. 20 billion cubic metres per year) of the transmission capacity in the pipeline system. Transitgas is an approximately 300 kilometre pipeline that crosses central Switzerland and connects gas markets in Germany and France to Italy. (Photo: Fluxys SA - www.fluxys.com)

Adebayo Ogunlesi, Managing Partner of GIP commented: "We welcome the opportunity to partner with Fluxys to enhance the security of gas supply and interconnect the key trading hubs in Western Europe. FluxSwiss represents a uniquely strategic infrastructure asset in a rapidly evolving European natural gas market that will benefit from the combined financial, operational and energy industry expertise of our partnership."

Walter Peeraer, Managing Director of Fluxys G further commented: "We are pleased to welcome GIP as strategic partner in Fluxys Switzerland. GIP with its focus on business integration, improving infrastructure and applying industry best practice will contribute to the development of FluxSwiss and the implementation of our strategy to link the gas trading locations in the Northwest and the South of Europe."