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French and Spanish operators create venture to develop hydrogen pipeline
Published by Global Banking & Finance Review®
Posted on July 3, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on July 3, 2025
2 min readLast updated: January 23, 2026
French and Spanish firms launch a joint venture for a hydrogen pipeline, Barmar, part of the H2Med project to connect several EU countries by 2030.
By America Hernandez
PARIS (Reuters) -French gas grid operator Natran, a unit of utility Engie, has created a joint venture to develop a cross-border hydrogen pipeline with French storage operator Terega and Spain's Enagas, it said on Thursday.
The Barcelona-to-Marseille underwater pipeline, or Barmar, is part of a larger 2.5 billion euro ($2.93 billion) project called H2Med that will link Portugal, Spain, France and Germany by 2030, as the European Union hopes to displace some natural gas use with hydrogen, which does not emit CO2 when combusted.
H2Med is planned to have a capacity to transport 2 million metric tons of hydrogen made from renewable electricity annually when built - roughly 10% of expected EU hydrogen consumption in 2030.
In the venture to operate Barmar, Enagas, also a grid operator, will hold 50%, Natran will hold 33.3%, and Terega 16.7%, Natran's statement said.
The European Union last month approved funds covering 50% of the project development costs.
Earlier this year, Enagas CEO Arturo Gonzalo said a final investment decision on H2Med was unlikely before 2028.
($1 = 0.8519 euros)
(Reporting by America Hernandez and Dominique Vidalon; Writing by Makini Brice; Editing by Benoit Van Overstraeten and Barbara Lewis)
The Barmar pipeline aims to transport hydrogen made from renewable electricity between Barcelona and Marseille as part of the larger H2Med project.
In the joint venture, Enagas holds 50%, Natran holds 33.3%, and Terega holds 16.7%.
H2Med is planned to have a capacity to transport 2 million metric tons of hydrogen annually, which is about 10% of the expected EU hydrogen consumption in 2030.
Enagas CEO Arturo Gonzalo mentioned that a final investment decision on H2Med is unlikely before 2028.
The European Union approved funds covering 50% of the project development costs for H2Med.
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