Spanish gas grid operator Enagas concluded the sale of its ownership stake in a Mexico pipeline company as it seeks to focus on expanding in southern Europe.

Spain has an increasingly critical role in Europe’s energy security drive, with 43% of the European liquefied natual gas volumes being stored in the company’s Spanish facilities during the fist quarter of 2023, a 10% increase on the same period last year.

The sale of the stake in the Mexico-based Gasoducto de Morelos pipeline infrastructure company was originally tabled in 2021 and was concluded on Monday evening, Enagas said.