BG GROUP AND ENEL EQUAL PARTNERS IN THE BRINDISI REGASIFICATION PLANT PROJECT

Published on Thursday, 12 June 2003

Rome, June 12, 2003 –

The board of Enel SpA has approved an agreement for Enel to acquire a 50% stake in Brindisi LNG, the company currently wholly owned by BG that will build and manage a terminal for the import of liquefied natural gas into Italy.

Enel will pay a cash consideration of 10.9 million euro, related to the acquisition of the stake in Brindisi LNG and based on the cost of developing the project to date. Subsequent development costs for the project will be divided equally between Enel and BG. The closing of the transaction is expected to take place on June 24, 2003 and the directors of Brindisi LNG will be re-elected on the same date.

The project calls for the construction of a Liquefied Natural Gas regasification terminal at the port of Brindisi. The plant, which is currently estimated to require an investment of 390 million euro, will have a regasification capacity of 8 billion cubic metres of gas a year. Construction will begin in 2004 and is expected to be completed by 2007. Enel and BG will share 80% of the terminal’s capacity equally, while third parties will be given regulated access to the remaining 20%, in accordance with current law provisions.

BG obtained the required authorisation for the construction and management of the terminal last January, and, in February, signed an agreement in lieu of concession with the Brindisi Port Authority allowing the use of the port for the terminal.

The Brindisi project is listed as a strategic infrastructure priority by both the Italian Government and the European Union.

Price Sensitive | June, 12 2003

1595280-1_PDF-1.pdf

PDF (0.02MB)DOWNLOAD

Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014