Monday 14th November, London and Frankfurt – Gazprom Marketing & Trading Limited is pleased to announce that it has acquired Envacom Service GmbH, a German retail power company.

The new entity, Gazprom Marketing and Trading Retail Germania GmbH, which will market its products and services as “Gazprom Energy”, provides a solid foundation on which to build upon the Gazprom group’s strength of supplying power to the business sectors through its range of products and excellent customer service, which has seen it propelled to one of the leading corporate energy providers in the United Kingdom, Ireland and France.

As a young and innovative business, this move is a perfect fit for Gazprom Energy as it looks to fulfil its strategic ambition of becoming a truly global energy supplier. Gazprom Energy brings much needed investment, solid financial backing, additional skills and proprietary technology to the German market.

Jozua Knol, Managing Director of Gazprom Energy in Germany, said: “The acquisition of this business represents a significant step for Gazprom in our strategy to accelerate growth in our power business. We are looking forward to delivering on the promise of this acquisition, to building value for our customers, and delivering on the Gazprom group’s strategy of business diversification."
“The transaction is entirely amicable, and we look forward to not only providing security for existing staff and customers, but also investing in the business, creating new jobs and promoting competition within the German power market.”

Jon Feingold, Managing Director of Gazprom Marketing and Trading Retail said: “With a solid customer base in Germany, this business gives us a platform to access to one of the largest and most liquid energy markets in Europe. We are confident we can grow market share organically from here using the same model that has seen significant success in the British, Irish, French and more recently Dutch corporate sectors.