ČEPS buys RWE Gas Storage CZ for EUR 360m

Published: 25.08.2023 Related countries:  United Arab Emirates United Arab Emirates

The state operator of electricity distribution system ČEPS has agreed with the German utility RWE on the sale of its subsidiary RWE Gas Storage CZ.

The purchase was approved by the Czech government. With six underground gas reservoir tanks with a total volume of more than 2.7bn m3, RWE Gas Storage CZ is the largest operator of underground gas reservoir tanks in the Czech Republic. The subject of the sale is the entire company, including its staff, namely 250 employees. The agreed purchase price is EUR 360m. The transaction is subject to approval by regulatory authorities.

Source: CIA NEWS