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GDF SUEZ Finalizes its Gas Storage Acquisition in Germany, Strengthening its Leading Position in Europe - GDF SUEZ has closed today its agreement to buy 5 natural gas underground storage facilities in Germany and a 19.7% stake in another one - GDFSUEZ.com
GDF SUEZ Finalizes its Gas Storage Acquisition in Germany, Strengthening its Leading Position in Europe

 

PRZOOM - /newswire/ - Paris, France, 2011/08/31 - GDF SUEZ has closed today its agreement to buy 5 natural gas underground storage facilities in Germany and a 19.7% stake in another one - GDFSUEZ.com. FR0010 208488

   
 
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The transaction announced 31 January 2011 covers the storage facilities held by BEB Speicher GmbH and by ExxonMobil Gasspeicher Deutschland GmbH.

This transaction covers underground gas storages in Uelsen, Harsefeld, Lesum, Reitbrook, Schmidhausen, as well as 19.7% stake in Breitbrunn-Eggstädt. These facilities include 4 depleted fields and 2 salt caverns. The respective share of working gas volume concerned is about 1.5 billion cu.m and 80% of storage capacities are already contracted until 2020.

These activities are taken over by Storengy, a subsidiary of GDF SUEZ spearheading the Group’s natural gas storage activities.

As per agreement closing GDF SUEZ has today a total storage capacity of 12.5 billion cu.m in Europe, of which more than 2 billion cu.m are offered to the German market. With this acquisition GDF SUEZ is now among the top 4 leaders in the German storage market with a 10% market share (vs. 2,5%). GDF SUEZ also becomes number 1 in Europe in terms of natural gas storage capacities sales and has now stronghold positions in three key markets : France, Germany and the United Kingdom.

About GDF SUEZ
GDF SUEZ develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010. The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.

Investor relations contact:
T: +33 (0)1 44 22 66 29 / E: ir[.]gdfsuez.com.

 
 
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Agency / Source: GDF SUEZ | ENGIE

 
 

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GDF SUEZ Finalizes its Gas Storage Acquisition in Germany, Strengthening its Leading Position in Europe

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GDF SUEZ |
Contact: Press Office - GDFSUEZ.com 
+33 (0)1 44 22 24 35 gdfsuezpress[.]gdfsuez.com
 
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