Enagas, the Spanish gas grid operator, announced its plans to significantly reduce its debt and invest in hydrogen projects to diversify its business portfolio. The company recently sold its stake in Tallgrass Energy, resulting in a debt reduction of approximately 1 billion euros, putting its net debt at around 2.4 billion euros, the lowest since 2008. Enagas aims to invest nearly 6 billion euros in hydrogen infrastructure, including a hydrogen network in Spain and the H2Med corridor connecting Iberia with northwest Europe. This strategic shift follows asset sales in Chile and Mexico, allowing the company to focus more on its home country and Europe. To finance these projects, Enagas has already cut its dividends and plans to make net investments of about 3.2 billion euros through 2030. The company, in which the state owns a 5% stake, will seek interest in the H2Med corridor by inviting partners to participate in the project. Enagas' strategy aligns with Spain's government vision of leading in green hydrogen production in Europe. Despite posting a loss in the first nine months of the year, Enagas aims to surpass its revised targets announced in July. A new strategic plan will be unveiled alongside the first-quarter results in 2022, demonstrating the company's commitment to sustainability and innovation in the energy sector.