Enagás SA has agreed to purchase Uniper SE’s stake in the Dutch pipeline company that owns a major natural gas interconnection between the UK  and the Netherlands.

The Spanish firm could invest around $81 million for a 20% interest in BBL Co., subject to approval by regulators. BBL Co. is a joint venture company that operates the BBL Interconnection, a nearly 150-mile subsea pipeline that supplies a bidirectional flow of gas between the UK and the netherlands.

The agreement allows Enagás “to advance in its positioning as one of the main operators to strengthen the security of energy supply in Europe,” representatives for the company wrote in a statement.

It also coincides with the company’s decarbonization goals as Europe continues to advance its transition to...