Type public Products natural gas Headquarters Leipzig, Germany Parent organization EnBW | Industry oil and gas industry Website www.vng.de Founded 29 June 1990 | |
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Predecessor Technische Leitung Ferngas Services natural gas sale and transportation Subsidiaries ONTRAS - VNG Gastransport Gmbh Profiles | ||
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.
Contents
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. On 29 January 2010, VNG's shareholders agreed that Gazprom would acquire shares from GDF Suez-owned EEG. This deal is seen as an assets swap giving to GDF Suez a stake in the Nord Stream project in exchange.