Gas Connect Austria raises stake in TAG GmbH
In July of this year, a decision was adopted to certify TAG GmbH as an independent transmission operator, successfully completing the unbundling of the Austrian TSO as required by the EU. This decision transfers civil-law ownership of the TAG pipeline from Gas Connect Austria to TAG GmbH and requires the latter to maintain and operate the pipeline independently in future. While the TAG pipeline was previously maintained by Gas Connect Austria, TAG GmbH was already the beneficial owner and responsible, inter alia, for expanding the system, marketing transportation rights and collecting transportation fees on the TAG system. In return for contributing the pipeline and the related operations, Gas Connect Austria is raising its existing stake in TAG GmbH from 11% to 15.5%, while the Italian shareholder CDP GAS Srl, a wholly owned subsidiary of CDP Group, is reducing its existing stake in TAG GmbH from
89% to 84.5%. The TAG pipeline is one of the most important lines both for Austria’s supply of natural gas and for transit to Italy, Slovenia and Croatia.
Under the new structure, transportation capacity utilisation on the TAG system will remain stable and the pipeline will continue to ensure a reliable supply of natural gas.