Published by Global Banking & Finance Review®
Posted on February 17, 2026
2 min readLast updated: February 17, 2026
Add as preferred source on GoogleEnagas is exploring European asset acquisitions to boost its hydrogen strategy, focusing on regulated assets that align with its investment and dividend policies.
MADRID, Feb 17 (Reuters) - Spain's Enagas is open to acquiring regulated energy assets in Europe that match the utility's shift towards hydrogen infrastructure, support security of supplies and don't affect dividend policy and credit ratings, its CEO said on Tuesday.
In recent years, the company has sold assets in the United States, Chile and Mexico as it refocused on Spain and Europe. It has also cut dividends and debt to fund its planned shift into managing hydrogen infrastructure.
Reuters reported in October that Enagas held talks to acquire Singapore sovereign wealth fund GIC's 32% stake in Terega, its partner in a planned Spain-France hydrogen pipeline. The companies already operate gas pipeline connections between the two countries.
Deploying Enagas' investment plan while maintaining its dividend policy and credit ratings was a priority, Chief Executive Arturo Gonzalo said.
Still, Enagas would consider M&A operations in line with its strategy.
"If these conditions are met, then we can explore opportunities in regulated assets in Europe that fit well within this framework," he said in response to a query on whether the company had been in talks to buy a stake in Terega, France's second-largest gas transmission operator.
"We have no announcements to make in this regard, but within that possibility, Terega is a great company. We know them well, we are partners in our daily operations and in major projects, and it could meet our requirements."
(Reporting by Pietro Lombardi; Editing by Bernadette Baum)
M&A stands for mergers and acquisitions, a strategic approach where companies consolidate through various types of financial transactions, including mergers, acquisitions, and consolidations.
Hydrogen infrastructure refers to the systems and facilities needed for the production, storage, distribution, and utilization of hydrogen as an energy source.
A dividend policy is a company's approach to distributing profits back to shareholders, which can include regular cash payments or reinvestment into the business.
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