trending Market Intelligence /marketintelligence/en/news-insights/trending/5KG23ws-NQBx6edDq_AkzA2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Naturgy, Sonatrach to acquire Mubadala's stake in Medgaz

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August


Naturgy, Sonatrach to acquire Mubadala's stake in Medgaz

Spanish utility Naturgy Energy Group SA and Algerian oil company Sonatrach SpA agreed to acquire Abu Dhabi state fund Mubadala Investment Co.'s 42.09% interest in Medgaz.

Medgaz is responsible for the construction and operation of a deepwater gas pipeline from Algeria to Europe through Spain, according to an Oct. 15 news release.

Through the deal, Naturgy will increase its current 14.95% stake to 49%. It will acquire the additional 34.05% interest for €445 million, funded with a €260 million nonrecourse loan via a special purpose vehicle.

Sonatrach, which owns and operates a connecting gas pipeline on the Algerian coast that links up with Medgaz, will up its current stake to 51%. The two companies will have joint control of Medgaz, the statement said.

The transaction values 100% of Medgaz's equity at €1.30 billion with an enterprise value of approximately €1.90 billion. Medgaz is expected to deliver dividends above €130 million per annum from 2021 onwards.

All of the pipeline's capacity is contracted under euro-denominated "send or pay" agreements until 2031.

Completion of the transaction is expected to occur prior to the end of March 2020, subject to compliance with certain conditions and approvals.