MET, has acquired 100% of KGE, a natural gas storage operator based in Gronau, North Rhine-Westphalia, Germany. With this acquisition MET is further strengthening its commitment to investing in natural gas infrastructure in Germany.
Founded in 2007, KGE operates an H-gas cavern storage facility in Gronau-Epe with a total working gas volume of 179 million m3. It has a maximum injection capacity of 150,000 nm³/h (normal cubic metres per hour) and a maximum withdrawal capacity of 400,000 nm³/h. The facility is connected to the Trading Hub Europe (THE) market area. To date, the owners were EWMR (Energie- und Wasserversorgung Mittleres Ruhrgebiet GmbH), Dortmunder Energie- und Wasserversorgung GmbH (DEW21), Stadtwerke Essen AG, GELSENWASSER AG and MET Holding Germany.
With the closing of the transaction, the four municipal companies from the Ruhr region have sold all their shares in the natural gas storage company to MET. In Germany, MET has already been active for several years as an operator of natural gas storage facilities at the Etzel (Lower Saxony) and Reckrod (Hesse) sites.
Benjamin Lakatos, chairman and CEO of MET Group, says: ‘I am delighted with this transaction strengthening our position in the German market. This is an excellent example of how MET can add value to the European gas markets.’
