The name change follows the 2020 acquisition by Allianz Capital Partners of a 75% stake in the company and what amounts to almost all of Galp’s holding.

Under the slogan “Hello future, Hello Floene”, the company is branding itself as ready to distribute new renewable gases to companies, communities and families from the north to south of the country.

“We innovate to bring the energies of the future,” the company says on its website.

Floene, headquartered in Lisbon, is comprised of nine regional gas DSOs present in 106 municipalities and serving approximately 1.1 million customers, including those in the capital.

These are Beiragás, Dianagás, Duriensegás, Lisboagás, Lusitaniagás, Medigás, Paxgás, Setgás and Tagusgás.

Floene’s network extends more than 13,500km in length and consisting mostly of polyethylene and with an average age of less than 16 years, is claimed one of the most modern and efficient in Europe.

Floene also positions itself at the forefront of the decarbonisation of energy consumption and energy transition, with the polyethylene network allowing the transport of green hydrogen and other gases of non-fossil origin, such as biomethane.

“We are now focused on promoting and leading the future distribution of new renewable gases, contributing decisively to the decarbonisation of the economy and the country, in meeting environmental goals,” executive chairman Gabriel Sousa was quoted as saying in a statement.

Among other activities Floene is a participant in the Ready4H2 project, a major initiative which was formed involving over 90 European gas distributors to combine their hydrogen expertise and experiences to create a common understanding of how the distribution networks can help realise the carbon reduction potential of hydrogen utilisation.

In the third of the project’s three reports setting out a roadmap for hydrogen infrastructure, the gas operators have committed to facilitating the development of the hydrogen market, transforming their networks and delivering at scale by 2045.