Suez was required to decrease its stake in Fluxys to below 45% from 57.25% to meet EC regulatory requirements, as a pre-condition to its merger with Gaz de France. Suez sold a 12.5% interest to UK-based Ecofin.
The news source reported that the Belgian holding firm Publigas, which owns a 31.25% stake in Fluxys, is against the idea of splitting the company into a distinct gas pipeline system operator and the Zeebrugge gas hub.
GDF Suez reportedly wants to retain a 60% stake in the Zeebrugge terminal, while Publigas wants majority-control of Fluxys including the gas hub, according to Reuters.
Gerard Mestrallet, GDF Suez’s CEO, said: If one were to nationalize the terminal then GDF Suez would be obliged to expand its gas hub somewhere else and the traffic in Zeebrugge would fall.
