Macquarie Asset Management has announced the acquisition of the remaining 20% equity interest in National Gas from National Grid.
This transaction will result in a consortium led by Macquarie owning 100% of National Gas.
National Gas operates the UK’s 7,660-kilometre national gas transmission system, transporting energy to power stations, industries and homes.
It also maintains over six million domestic, industrial and commercial gas meters across the UK.
The agreement for the remaining 20% stake follows previous investments made by the consortium in January 2023 and March 2024.
The transaction is expected to be completed by the first quarter of 2025, subject to regulatory approvals.
Will Price, Head of Utilities for Macquarie Asset Management in EMEA, said: “We would like to thank National Grid for its partnership over the past two years, during which time we have continued to invest in National Gas and supported the company’s ongoing role in delivering a safe and reliable supply of gas to domestic, commercial and industrial energy users throughout Britain.
“This transaction underlines our commitment to National Gas and the critical role – which was emphasised again this month by both the Electricity System Operator and Ofgem – we believe its infrastructure will continue to play as the UK delivers its ambitious energy security and decarbonisation goals.”
The global asset management firm manages around AUD 938.31 billion (£477bn) in assets for various clients, including institutions, governments, foundations and individuals.
Over the past year, the trial increased the hydrogen mix from 2% to 100%.
The FutureGrid project, led by National Gas, tested hydrogen blending in parts of the 5,000-mile national transmission network that were previously in use.
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