BBL Company V.O.F. was founded in 2004 and has been operating a gas transport pipeline between Balgzand in the Netherlands and Bacton in the United Kingdom since 2006. The interests in BBL Company are held by Gasunie BBL B.V. (60%), Fluxys BBL B.V. (20%), and GUFU BBL B.V. (20%). Gasunie is the sole shareholder of Gasunie BBL B.V. and holds 75% of the shares in GUFU BBL B.V. Based on the contractual arrangements between the shareholders, Gasunie has control over GUFU BBL B.V. However, based on the contractual arrangements, acquiring the shares in GUFU BBL B.V. in 2023 did not at any point give Gasunie control over BBL Company. Accordingly, we consolidate BBL Company for 80% (60% via Gasunie BBL and 20% via GUFU BBL), with Fluxys BBL B.V. taking a non-controlling interest  of 5%. At year-end 2024, Gasunie effectively had a 75% financial interest in the BBL Company joint operation (year-end 2023: the same).