10. Other equity interests
Our other equity interests are as follows:
| Company name | Registered office | Interest | |
|---|---|---|---|
| 31 Dec. 2024 | 31 Dec. 2023 | ||
| Energie Data Services Nederland (EDSN) B.V. | Arnhem | 12.5% | 12.5% |
| Nord Stream AG | Zug, Switzerland | 9.0% | 9.0% |
| PRISMA European Capacity Platform GmbH | Leipzig, Germany | 12.8% | 12.8% |
| SCW Systems B.V. | Schoorl | 4.2% | 4.7% |
Energie Data Services Nederland (EDSN)
EDSN works together with TSOs TenneT and GTS and the regional grid operators (all of which are also its joint shareholders) on central market facilitation for the energy sector. EDSN develops and manages IT infrastructure for the energy market. Based on contractual arrangements between the shareholders, Gasunie has no significant influence in EDSN.
Nord Stream
Gasunie has a 9.0% financial interest in Nord Stream, a Swiss-based company. The majority of shares (51.0%) are held by the Russian state-owned company Gazprom, with the remaining shares owned by the western European energy companies Wintershall Dea (15.5%), E.ON (15.5%) and ENGIE (9.0%).
Nord Stream is responsible for the operation of two gas pipelines that form the Nord Stream connection running from Russia to Germany under the Baltic Sea. Gasunie gained a share in the equity of Nord Stream in 2008. Based on contractual arrangements between shareholders, Gasunie has no significant influence in Nord Stream.
PRISMA European Capacity Platform (PRISMA)
PRISMA is a European platform for trading transport capacity. Gasunie offers its transport capacity on this and other platforms. Based on contractual arrangements between the shareholders, Gasunie has no significant influence in PRISMA.
SCW Systems
SCW Systems and Gasunie are the joint shareholder in Demonstratiefaciliteit SKW Alkmaar B.V., a cooperation aimed at developing infrastructure to produce biomethane through the use of supercritical water (SCW) gasification of wet biomass. This biomethane can then be fed directly into the gas transmission network. At year-end 2024 Gasunie had a 4.2% interest in SCW Systems (year-end 2023: 4.7%). The decrease in our interest in SCW Systems is related to the fact that not all shareholders in SCW Systems participate pro rata in additional capital contributions. Based on the contractual arrangements between the shareholders, Gasunie does not have significant influence in SCW Systems.
Explanation of fair value of other equity interests
The fair value of other equity interests at year-end 2024 was, in total, € 7.0 million (also € 7.0 million at year-end 2023). For all interests this is a level 3 measurement (year-end 2023: level 3). No dividend was paid in 2024 in regard to the other equity interests (the same as in 2023).
As regards our equity interest in Nord Stream, the context in which we hold shares has changed significantly since Russia invaded Ukraine in 2022. Furthermore, both pipelines were severely damaged as a result of the explosions that occurred on 26 September 2022, with the result that neither pipeline has been operational since. At year-end 2024, we reviewed the operational and financial future of Nord Stream and assessed the consequences for us as a shareholder. Based on our assessment, we decided to keep the fair value of our interest in Nord Stream at year-end 2024 at € 0 (year-end 2023: € 0).
Our assumption for the other equity interests in PRISMA, EDSN and SCW Systems is that, partly on account of their relatively small size, the fair value is a good estimation of the carrying amount. We have, therefore, not included a fair value calculation and sensitivity analysis in the financial statements for these interests.