Transmission System Operators, Enagás (Spain)―through its affiliate Enagás Infraestructuras de Hidrógeno (EIH)―, NaTran and Teréga (France) announced a significant step forward for the H2med project with the signing of a Shareholders' Agreement. This agreement establishes the creation of a joint venture dedicated to the development of the BarMar Project of Common Interest (PCI), the renewable H₂ pipeline that will connect Barcelona, Spain, to Marseille, France - a key part of the H2med project, alongside the CelZa project.

This major new step, coming one year after the signing of a Joint Development Agreement in June 2024, provides a clear structure and accelerates the implementation of this essential component of the European Union's first clean H₂ corridor, which aims to cover 10% of Europe's H₂ consumption by around 2030.

The new company, which will be based in the South of France, in Région Provence-Alpes-Côte d'Azur, defines the project's governance structure. The shareholding is distributed as follows: EIH-Enagás with 50%, NaTran with 33.3%, and Teréga with 16.7%. This split reflects the overall balance of the H2med project, which is shared 50% by Spain and 50% by France. Mr. Francisco Pablo de la Flor, from Enagás, has been appointed as the new entity's Chief Executive Officer (CEO).

This pivotal milestone is announced eight days after European support was reconfirmed during a high-level meeting between the leaders of the five companies involved in the H2med project and the Executive Vice-President of the European Commission, Ms. Teresa Ribera, who oversees the Green, Just and Competitive Transition.

The project's momentum is further solidified by the recent signing of Grant Agreements with the European Climate, Infrastructure and Environment Executive Agency (CINEA) for the BarMar and CelZa (Celorico–Zamora) projects. The funding secured represents 100% of the funds requested under the Connecting Europe Facility (CEF) and covers 50% of the development costs. These funds are crucial for launching the engineering studies, marine reconnaissance surveys, and environmental impact assessments required for the permitting process.