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Italian SNAM to Acquire TAG Gas Pipeline for EUR 505 Mln

Published: September 15, 2014; 18:00 · (Vindobona)

The Italian gas pipeline operator SNAM is going to buy the alpine Trans-Austria-Gasleitung GmbH (TAG), a pipeline running through Austria and the Alps. The price of the pipeline stretch amounts to EUR 505 million, Italian media reports. Austria’s listed oil and gas group OMV holds an 11-percent stake in TAG.

Italian SNAM to Acquire TAG Gas Pipeline for EUR 505 Mln / Picture: © Flickr

The Italian gas pipeline operator completed the takeover of the operator of transalpine pipeline Trans Austria Gasleitung GmbH (TAG) started earlier this year.

The Italian government decided to privatise its stake in the company. The Austrian oil group OMV holds a 11 percent stake in TAG.

The 380-kilometer-long TAG pipeline runs from the Slovak-Austrian border near…

This article includes a total of 104 words.

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