France’s gas grid operator Natran, a subsidiary of utility giant Engie, has announced the formation of a joint venture to develop a cross-border H₂ pipeline in collaboration with French gas storage operator Terega and Spanish transmission system operator Enagas.

The initiative centers on the Barcelona-to-Marseille underwater pipeline, also known as Barmar, which is a key component of the H2Med project. Valued at €2.5 billion ($2.93 billion), H2Med aims to link Portugal, Spain, France, and Germany by 2030, establishing a H₂ corridor that supports the European Union's goal of reducing dependence on natural gas. The pipeline will transport 2 metric MMtpy of green H₂, representing around 10% of projected EU H₂ demand by 2030.

Under the terms of the joint venture:

• Enagas will hold a 50% stake
• Natran will own 33.3%
• Terega will retain 16.7%.

In June, the European Union approved financial support to cover 50% of H2Med’s project development costs, signaling strong institutional backing for the decarbonization effort.

Despite this progress, a final investment decision is not expected before 2028, according to Enagas CEO Arturo Gonzalo, who commented earlier this year on the project’s long-term timeline.

For the original story, visit: https://www.reuters.com/business/energy/natran-enagas-teregea-create-joint-venture-develop-barmar-H2-pipeline-2025-07-03/