Leipzig/London, January 27, 2016. goldgas GmbH, a wholly owned subsidiary of Leipzig natural gas specialist VNG – Verbundnetz Gas AG (VNG AG), today signed an agreement to acquire power supplier Gazprom Marketing & Trading Retail Germania (GM&TRG), a wholly owned subsidiary of Gazprom Marketing & Trading Limited (GM&T), London. The transaction is likely to be completed by the end of March 2016 and is subject among other things to the approval of the German anti-trust authorities and relevant board approvals.
Vitaly Vasiliev, CEO of GM&T emphasised: “This transaction is in line with Gazprom Energy’s key strategic focus of providing energy to business customers only. Our German retail power business (GM&TRG) presents the VNG Group with an opportunity to further expand its presence in the German residential energy market. GM&TRG will continue to provide excellent customer care and deliver a reliable supply of power to its customers throughout the transition to goldgas.”
Dr. Karsten Heuchert, Chairman of the Executive Board of VNG, said: “With the acquisition of GM&TRG, the VNG Group is consistently pursuing its strategy of further expanding its business with consumers. For goldgas, this acquisition provides an outstanding opportunity to strengthen its market position in the private customer sector and supply its customers with power and gas from a single source in line with their requirements. In addition to natural gas, the company has already sold power products since 2012.”
VNG – Verbundnetz Gas AG
VNG – Verbundnetz Gas Aktiengesellschaft (VNG AG) is a natural gas merchant company and energy service provider with headquarters in Leipzig. VNG AG is a company within the VNG Group that is active throughout the value chain of the German and European natural gas industry and focuses on the four key business areas of exploration & production, trading & services, transport, and storage. With more than 50 years of experience, the VNG Group makes a key contribution to ensuring secure supplies of natural gas. The Group employs some 1,400 people and recorded sales of approximately €10 billion in 2014. Further information is available at www.vng.de.
Gazprom Marketing & Trading Limited (GM&T)
Gazprom Marketing & Trading Limited (GM&T) is a UK-registered wholly-owned subsidiary of PAO Gazprom (“Gazprom”), the world’s largest gas company by asset base, accounting for approximately 17% of the world’s total natural gas reserves and for about 72% of natural gas reserves in Russia. GM&T is headquartered in London and was established in 1999 to manage Gazprom's marketing and trading activities in the liberalised markets of Europe. GM&T is headquartered in London and is responsible for the optimisation of Gazprom’s energy commodity assets and downstream expansion through its marketing and trading network. With subsidiaries in USA, Singapore, France, Germany, the Netherlands and Switzerland, GM&T trades energy commodities including gas, power, oil and oil products, carbon, LNG and FX. Gazprom Energy is the brand name for GM&T’s retail subsidiaries and activities across Europe.
Ipek Yigit / Dualta Redmond
Gazprom Marketing & Trading Communications
+44 (0) 20 7756 0000