Switzerland's MET Group buys Germany's KGE, boosting gas storage portfolio
MET, which already has natural gas storage facilities in the states of Lower Saxony and Hesse, did not disclose the value of the transaction.
KGE operates a high-calorific gas cavern storage facility with a total working gas volume of 179 million cubic metres. The facility is connected to the Trading Hub Europe (THE) market area.
MET CEO Benjamin Lakatos lauded the transaction as "strengthening our position in the German market" and as an "example of how MET can add value to the European gas markets."
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Finextra
2 hours ago
- Finextra
Mastercard and Pay4You form spend management partnership
Mastercard has joined forces with self-service payment portal Pay4You to pitch a tail spend management offering to firms in Europe. 0 The partners are focusing on the 20% portion of a company's expenditures that are not actively managed by procurement. They claim that by integrating Pay4You's platform with Mastercard's virtual card technology, corporations can reduce costs, increase process efficiencies, and ensure compliance while offering employees a better user experience. The collaboration will also help issuers capture new flows on cards that are traditionally account-to-account payments. 'We are proud to partner with Mastercard to offer companies a smarter way to handle small, high-volume supplier payments, combining working capital optimization with seamless transaction flows. Corporate credit cards have long been underused in this area. That is about to change,' says Lourens Stamhuis, CEO, Pay4You. Johanna Waara, SVP, head, corporate solutions, Europe, Mastercard, adds: "By leveraging our virtual card technology within the Pay4You platform, we are enabling corporations to better manage their expenditures and drive greater financial efficiency."
Reuters
3 hours ago
- Reuters
Exxon Mobil finds natural gas reservoir offshore Cyprus, government says
NICOSIA, July 7 (Reuters) - A consortium led by ExxonMobil (XOM.N), opens new tab has found a reservoir of natural gas at a prospect off the island's coast, a Cypriot government spokesperson said on Monday. Drilling resulted in preliminary indications of 350 metres of a gas-bearing reservoir at a depth of 1.9 kilometres (1.2 miles) in the Pegasus-1 well, spokesperson Konstantinos Letymbiotis said. "Further assessment will be required in the coming months to evaluate the results," he said in a statement released after Cypriot President Nikos Christodoulides was briefed on the results. Letymbiotis said it is the second gas discovery made in Block 10 by partners ExxonMobil and QatarEnergy, following a discovery at the Glaucus-1 well announced in February 2019. The Glaucus-2 appraisal well, completed in March 2022, confirmed the existence of a high-quality gas-bearing reservoir. Cyprus has found quantities of natural gas at several locations rimming its south, but has yet to extract or commercialise it.
The Independent
3 hours ago
- The Independent
Apple Watch series 10 reduced to its lowest-ever price in Amazon Prime Day sale
At long last, Amazon Prime Day 2025 has arrived, and the online giant is busy slashing prices on everything from tech to beauty, including all of Apple's gear. But while there are hefty discounts on AirPods and iPads, it's this deal on the Apple Watch series 10 that's caught my eye. Launched last September, Apple's flagship smartwatch has been slashed by an enormous £104 for Prime Day. I've been tracking the price of the Apple Watch series 10 since it launched, and this is the wearable's first-ever price cut, taking it down to almost £300 for the first time. The sale is exclusive to Prime members and, unlike previous years, it's lasting four days instead of two, so you've got plenty of time to shop. So far, I've spotted big savings on laptops, TVs, air fryers, vacuums and more, but if it's the Apple Watch deal you're here for, here's what you need to know. Apple's latest and greatest Apple Watch series 10 smartwatch is the company's best yet. Boasting an all-new design with a larger display, new health features, sleep apnoea detection and faster charging, it's been slashed to just £325 for Amazon Prime Day. Almost as large as the display on the Apple Watch Ultra, you can see and do more than on any Apple Watch that has come before it. 'While at first glance it looks similar to the series 9, the bigger display, thinner profile and handsome new colours make the Series 10 a lot more appealing,' tech critic David Phelan said in his review. 'The features that have defined the Apple Watch, from subtle notifications, brilliant mapping capabilities on your wrist and above all, great health features, are all at their best here,' he added.
