Thysseng has a 4,400km underground network, which delivers gas to approximately around 50 municipal distribution centres in the region
Macquarie Asset Management has signed an agreement to acquire German gas transmission system operator Thyssengas from DIF and EDF Invest.
The company will acquire Thyssengas through Macquarie Super Core Infrastructure Fund.
Thyssenga is said to be the Germany’s second largest gas transmission system operator , with a 4,400km underground network.
The network supplies gas to approximately around 50 municipal distribution centres, 160 industrial customers and seven gas storage systems across North Rhine-Westphalia region in the country.
Thyssengas CEO Dr Thomas Gößmann said: “We are pleased to be working with Macquarie to address the major challenges and opportunities presented by the ongoing transformation of the energy industry.
“Our asset is, and will remain, the pipeline network for Germany’s industrial sectors as we continue to evolve our energy offering in an increasingly decarbonised world.”
By facilitating more use of low-carbon gases by its customers within the region, Thyssengas is expected to play a significant role in supporting the country’s decarbonisation plans to minimise nuclear and coal-fired generation.
Earlier, Macquarie owned Thyssengas between 2011 and 2016 through another of its managed infrastructure funds.
Macquarie Asset Management managing director Hilko Schomerus said: “Thyssengas is situated at the centre of Germany’s industrial region and services many hard-to-abate sectors.
“With a strong reliance on conventional energy, limited renewable energy resources, and strong gas network connectivity, greener gases such as low-carbon hydrogen present a strong energy alternative for local businesses seeking to decarbonise.”
At present, Thyssengas employs around 390 employees across seven locations in Northern Germany.
Founded in 1921, it is one of 16 German gas transmission system operators (TSOs).