A consortium of firms led by Spanish natural gas transport company Enagas SA (ENGGY, ENG.MC) won't make a formal offer for French Total SA's (TOT, FP.FR) gas storage unit TIGF, Enagas said Monday.

The group, which included Borealis, Antin Infrastructure Partners and Oman Oil company, had expressed an interest in bidding in November.

Two people familiar with the matter told Dow Jones Newswires last week that a group led by French power group Electricite de France SA (EDF.FR) and another consortium led by state-owned financial institution Caisse des Depots are the remaining bidders for the asset, which according to analyst estimates is valued at between 2.5 billion euros and 3 billion euros ($3.33 billion and $4 billion).

The companies must submit their final bids by Feb. 4, these people said.

Write to Christopher Bjork at christopher.bjork@dowjones.com

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