Spain's Enagas Considers Asset Sales to Fund New Gas Pipelines

(Reuters) — Spanish gas pipeline operator Enagas is considering selling assets to fund new European infrastructure needed as the region seeks to cut dependence on Russian gas, Bloomberg reported on Wednesday, citing its CEO Arturo Gonzalo Aizpiri.

Enagas may eventually sell its 30% stake in U.S.-based Tallgrass Energy, Arturo Aizpiri said, according to Bloomberg.

The Spanish company is ready to contribute to the financing of Tallgrass's growth opportunities as the United States has become a crucial liquefied natural gas (LNG) supplier to Europe, he added.

Enagas is seeking to develop gas pipelines from Spain so that the rest of Europe can tap excess regasification capacity through France or Italy.

An Enagas spokesperson did not immediately return a request seeking comment.

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