REN Rede Energeticas Nacionais, a Portuguese company engaged in the transmission of electricity and natural gas, has reportedly filed a statement with stock market regulator CMVM confirming that it is in negotiations with Spanish energy company Enagas, Thompson Financial has revealed.

According to the publication, the filing states that the negotiations regard a cross-shareholding, overseas joint ventures and board cross-representation deal between the two companies.

Maintaining that the talks between the two firms follow the companies’ respective governments’ recommendations regarding the creation of a single Iberian gas market, REN stated that the concluding date for the negotiations still remains unclear, Thompson Financial reported.