Situation
A state-owned energy company contemplated a restructuring of its European gas activities in the context of a growing and increasingly liquid global gas market, and a gradual reduction of clean energy incentive schemes in the European gas market.
In this context, the client commissioned FTI Consulting to assess the value of a dozen of European subsidiaries operating in the midstream and downstream gas industry (gas pipelines, gas trading, gas marketing). The valuation of the gas assets and the companies owning them was needed to determine what would be a relevant value for transfer or disposal of such subsidiaries at arm’s length conditions.