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Belgian and Spanish utilities Fluxys and Enagas have closed the joint sale of their respective stakes in LNG bunker terminal developer Swedegas to FS Gas Transport AB - a wholly-owned subsidiary of The European Diversified Infrastructure Fund II (EDIF II), which is managed by First State Investments - after the deal was approved by the Swedish Competition Authority.

Fluxys and Enagas agreed to the Swedegas deal in September and each receive SEK 1,033m (approx. EUR 100m) in the transaction as 50-50 shareholders.

Swedegas - which was acquired by Enagas and Fluxys in March 2015 - is currently developing a facility in the Port of Gothenburg that will enable ships to refuel using liquefied natural gas (LNG) and liquefied biogas (LBG).

Swedegas is also the owner and operator of the sole gas transmission network in Sweden. Through a 600-kilometre pipeline network, it supplies 33 municipalities, several combined heat and power plants and industrial customers with gas.

Additionally, Swedegas is a member of the Green Gas Initiative. It aims to ensure that 30 percent of the gas in its network is renewable by 2030, and 100 percent by 2050.

The Swedegas transaction is EDIF II's second acquisition in the Swedish gas network sector, having acquired the country's largest gas distribution system operator in April.