Enagas, Spain's gas network operator, has announced the sale of its 30.2% stake in Tallgrass Energy to US investment firm Blackstone for $1.1 billion. This move is part of Enagas' strategy to finance green hydrogen projects and transition towards renewable energy. By divesting its US assets, Enagas aims to refocus on Europe and strengthen investments in hydrogen infrastructure. The sale, expected to be completed by July, will result in a book loss of 360 million euros for Enagas in 2024, but financial analysts anticipate a positive impact on earnings from 2025 onwards. Enagas plans to invest 3.2 billion euros by 2030 to develop a hydrogen transport network in Spain, aligning with the country's green hydrogen production goals. Despite announcing dividend cuts for the next three years to fund these projects, Enagas' shares showed a 3.9% increase in early trading, signaling investor confidence in the company's strategic shift towards renewable hydrogen projects and its role in Europe's energy transition.