07-07-2025
Switzerland's MET Group buys Germany's KGE, boosting gas storage portfolio
BERLIN, July 7 (Reuters) - Swiss energy company MET Group has acquired German natural gas storage operator KGE, it said on Monday, adding 2 terawatt hours of capacity to its gas storage portfolio across now three sites in Germany.
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."
