Spain’s Enagas has taken a 41.9% stake in Gascan, the utility dedicated to developing two import terminals in the Canary Islands.
The purchase from locally controlled Regional Canaria de Energias will likely add oomph to the thus-far slow moving project.
The deal is subject to government approval.
Gascan’s largest shareholder remains Spanish utility Endesa, which holds 47.2%. The company is responsible for the terminals’ supply.
