VNG – Verbundnetz Gas

VNG – Verbundnetz Gas AG
public
Industry oil and gas industry
Predecessor Technische Leitung Ferngas
Founded 29 June 1990
Headquarters Leipzig, Germany
Products natural gas
Services natural gas sale and transportation
Website www.vng.de

VNG – Verbundnetz Gas AG (VNG) is a natural gas company headquartered in Leipzig, Germany. It is the third largest natural gas importer and the seventh largest energy company in Germany, and the second largest energy company in Eastern Germany.

History

The VNG's history began in 1958 when Technische Leitung Ferngas was established as a division of the electricity supplier VEB Verbundnetz West. In 1969, it became an independent unit which was integrated with the Schwarze Pumpe gas combine in 1970. If its early years the company provided town gas produced from lignite, with the beginning of Russian gas deliveries in May 1973 it switched to gas import, transportation and storage. Verbundnetz Gas AG was created as an independent company on 29 June 1990. In mid-1990s started its international expansion having activities in Poland, Czech Republic, Slovakia, Austria, Italy and Norway.

In 2007, VNG expanded its activities to biomethane production by establishing a subsidiary VNG Bioenergy GmbH.

Operations

In 2008, the VNG won 42% of its natural gas volumes from Russia, 24% from Norway, 23% from Germany and 11% on European spot and futures market.

The VNG's natural pipeline network consists of over 7,000 kilometres (4,300 mi) in Saxony, Saxony-Anhalt, Thuringia, Brandenburg, Berlin and Mecklenburg-Vorpommern. Its operated through its subsidiary ONTRAS - VNG GmbH.

VNG operates five underground gas storage facilities with a storage capacity of a total of 2.4 billion cubic meters. The two biggest stores are in Bad Lauchstädt and Bernburg.

Ownership

VNG's shareholders are:

In January 2009 EWE announced that it will sell its shares in VNG to EnBW. To get approval of the competition authorities to this deal, EnBW agreed to sell its gas supplying subsidiary GESO Beteiligungs- und Beratungs AG to the city of Dresden.[3] On 29 January 2010, VNG's shareholders agreed that Gazprom would acquire shares from GDF Suez-owned EEG.[4] This deal is seen as an assets swap giving to GDF Suez a stake in the Nord Stream project in exchange.[5]

See also

References

  1. ↑ "Germany investigating Gazprom deal". Upstream Online. NHST Media Group. 2011-09-16. Retrieved 2011-09-18.
  2. ↑ Antas, Łukasz (2010-02-17). "Gazprom and the French company GdF to co-operate more closely". EastWeek (200). Centre for Eastern Studies. Retrieved 2010-02-21.
  3. ↑ "EnBW Sells Gas Supplier GESO Unit To City Of Dresden". The Wall Street Journal. Dow Jones Newswires. 2010-02-12. Retrieved 2010-02-21.
  4. ↑ Hromadko, Jan (2010-01-29). The Wall Street Journal. Dow Jones Newswires http://online.wsj.com/article/BT-CO-20100129-712489.html. Retrieved 2010-02-21. Missing or empty |title= (help)
  5. ↑ Amiel, Geraldine; Hromadko, Jan (2010-02-19). "GDF Suez Deal On Nord Stream Stake In Matter Of Weeks-Sources". The Wall Street Journal. Dow Jones Newswires. Retrieved 2010-02-21.
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