Enagás, a midstream company with 45 years' experience and independent European TSO (Transmission System Operator), is an international standard bearer in the development and maintenance of gas infrastructures and in the operation and management of gas networks.
It holds stakes in gas infrastructures in Mexico, Chile, Peru, and Sweden and is also involved in the TAP project, a key pipeline in Europe that will link Greece, Albania and Italy. In Spain it has developed the key infrastructures for the Gas System, transforming it into a benchmark for security and diversification of supply, and has been the Technical System Manager since 2000.
Enagás has a free float of 95%, one of the highest on the Spanish continuous market. Approximately 70% of our share ownership is international, with the following estimated distribution by countries:
At Enagás, an Ownership Unbundling model is applied, which sets the maximum ownership limit for any shareholder at 5%, with a restriction on voting rights of 1% for agents from the gas sector and 3% for all other shareholders. These restrictions do not apply to direct or indirect shareholdings held by public-sector enterprises.
Enagás is also involved with the governing bodies of a number of Spanish associations and organisations such as Sedigas, Enerclub and Instituto Elcano, and international bodies such as IGU, ENTSOG, GIE, EASEE Gas, GIIGNL and UNECE. It also cooperates with regulators, both directly and through industry associations, to propose regulatory improvements, whether directly or as part of consultations by the regulators(1).
95% of Enagás' revenues come from regulated business. Regulation includes the development of remuneration and the conditions for accessing basic gas infrastructures to ensure competition in commercialisation.
(1). Enagás is registered in the EU Transparency Register. In 2015, the amount earmarked for lobbying was around €150,000, distributed as follows: personnel expenses (46%), office and administrative expenses (1%), representation, communication and public relations expenses (2%), internal expenses (14%), network and infrastructure membership expenses (37%).