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About Redexis Gas: Our history

Our histroy

Documento de acciones de Compañía del Gas de Zaragoza

The Redexis Gas Group has been supplying gas to its users for over 160 years, in a safe, convenient and clean manner. Since its origins, it has tried to provide innovative solutions by implementing advanced gas infrastructures, adapted to each moment in history.

Natural gas was introduced in Spain in mid 19th Century and was originally used for public lighting, replacing the former liquid petroleum and oil lamps and lanterns. The first gasworks plants were based on the dry distillation of coal, mainly hard coal.

In mid 20th Century, the authorization was obtained for the installation in Zaragoza of the Group’s first compressed gas plant, which was awarded the concession of the city’s lighting through piped coal gas. In this same period, Societé pour l’eclairage des villes de Biarritz et Saragosse acquired the plant and other assets.

The incorporation of Compañía del Gas de Zaragoza, S.A. did not take place until the year 1927, as part of Eléctricas Reunidas de Zaragoza.

In the 70’s, with the arrival of natural gas through the Barcelona pipeline, the company Distribuidora del Gas de Zaragoza, S.A. was incorporated (1976), the maximum shareholder being Eléctricas Reunidas de Zaragoza.

At the beginning of the 80’s, the concession of Gas de Zaragoza, S.A. was transferred to Distribuidora de Gas de Zaragoza, S.A. and the supply of carburized water gas began to be replaced with methane-air.

In 1985, the company Gas Huesca, S.A. was incorporated, and one year later, Endesa acquired Eléctricas Reunidas de Zaragoza and its respective investee companies.

During the 90’s, Distribuidora de Gas de Zaragoza, S.A. and Gas Huesca, S.A. merged, giving rise to Gas Aragón, S.A. (1993).

In 1997, Endesa Gas was incorporated, formed by different distribution companies established throughout the Spanish territory.

In the year 2000, the Company commissioned its first pipeline to carry gas, and one year later, the transmission activity began with the incorporation of Endesa Gas Transportista, S.L. and Transportista Regional del Gas, S.A.

In 2006, the Company had more than 300 thousand connection points, and one year later, it had built over 3,000 km of distribution network.

In 2010, two investment funds managed by Goldman Sachs acquired 80% of the share capital in the parent asset-holding company of Endesa Gas, changing its name one year later to Endesa Gas T&D, S.L.

In the year 2011, the Company continued to grow and in 2012 it had a built transmission and distribution network of more than 1,100 km and 4,200 km, respectively, and reached more than 375 thousand connection points, serving 181 municipalities in the Spanish territory.

From a corporate point of view, 2013 was the decisive year. The two international infrastructure investment funds of Goldman Sachs took control over the Company, which changed its name to Redexis Gas, thus concluding the process to acquire the Group.

At the end of 2014, the company signed an agreement to acquire Gas Energía Distribución Murcia, S.A. (renamed to Redexis Gas Murcia, S.A.) and additional gas distribution assets in Spain from Naturgás Energía Distribución, S.A. (NED) in Murcia, Extremadura, Madrid, Catalonia,  Community of Valencia and Castile and Leon. The closing of the acquisition of Redexis Gas Murcia was completed on January 2015 and the additional assets on June 2015. This operation demonstrates the strength of Redexis Gas in the gas distribution sector, provide access to natural gas to more than 5.2 million residential customers and industrial clients.

Additionally, 75 thousand connection points were acquired from Repsol in 2015 and 2016, of which 9.5 thousand connection points were integrated in 2015 and the remaining in 2016.

In December 2016, Redexis Gas entered into an agreement with Cepsa to acquired c.4,7 thousand piped Liquefied Petroleum Gas (LPG) connection points, which will be integrated in 2017.

In July 2017, the Company’s shareholders implemented a corporate restructuring in the same, pursuant to which the funds USS and ATP, previously indirect shareholders of Redexis Gas, went on to hold a direct position in the Company.

As a consequence of such transactions, at the closing of 2017, the shareholder structure in Redexis Gas, S.A. was left as follows: GSIP 50.1%, USS 30.0% and ATP 19.9%.

Additionally, on 20 June 2018, ATP and USS, as well as the financial investors Guoxin Guotong Fund LLP (“GT Fund”) and CNIC Corporation Limited (“CNIC”) acquired a 50.1% interest in Redexis Gas, S.A. and Redexis Gas Finance B.V. from the infrastructure funds managed by Goldman Sachs (“GSIP”). The shareholding structure of Gas Redexis is: ATP 33.3%, USS 33.3% and GT Fund and CNIC jointly 33.3%.

A new stage in the future history of Redexis Gas has started.