Gazprom takes over the storage activities

Moskau/Kassel. Following lengthy preparations for their asset swap, BASF/Wintershall and Gazprom signed the final agreements on it in Moscow on Monday, December 23, 2013. As a result, astora and WINGAS will be entirely transferred to Gazprom.

“In its capacity as a shareholder, the world’s largest natural gas producer has helped actively shape and support the WINGAS Group in establishing its natural gas trading and storage activities since its foundation in 1993”, says WINGAS Chairman Gerhard König. Gazprom’s commitment will further strengthen the position of the WINGAS Group in the challenging European natural gas market and as a reliable partner to its customers. König: “The foundation for its continued positive performance on the European natural gas market has now been laid with the new shareholder structure.”

Acquisition of all of the WINGAS Group’s natural gas trading and storage activities has already been approved by the responsible authorities and the EU Commission and is to be finalized completely by mid 2014. As already announced, the transaction will take place with retroactive economic effect as of April 1.

astora GmbH & Co. KG offers intelligent storage solutions from a single source – from the planning and development of natural gas storage facilities through to operation and the marketing of storage capacities. The company’s customers benefit from decades of experience in the technical field, comprehensive market knowledge and personal service. astora is committed to developing clear and simple solutions meeting the highest demands and is one of Europe’s leading storage facility operators. The company markets the capacities of the largest natural gas storage facility in Western Europe, at Rehden in northern Germany, with a working gas volume of more than 4 billion cubic meters. In addition, the company holds capacities in the second-largest storage facility of central Europe at Haidach, Austria. In order to expand its storage before portfolio and to secure natural gas supplies to Europe, the Jemgum natural gas storage facility on the border between Germany and the Netherlands is currently being developed.

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