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Eustream joins Central European Gas Hub

  • Slovak Eustream acquires a 15% stake in the Central European Gas Hub (CEGH)
  • The alliance strengthens the position of CEGH as the leading trading hub for natural gas in Central and South-Eastern Europe
  • CEGH becomes the operator of the Virtual Trading Point for Austria

The acquisition by the Slovak company Eustream of a 15% stake in the Central European Gas Hub gives another boost to the significance of the CEGH for Central and South-Eastern Europe. This agreement creates new opportunities for further market activities in the region.

The Central European Gas Hub, which offers traders easy access for gas trading, is one of Continental Europe's leading international gas hubs. Since its foundation in 2005, CEGH has seen the number of members rise to 147. Its trading volume in 2011 was approximately 40 bcm and in the first half of 2012, its trading volumes were 23% up on the previous year.

"Joining CEGH is an important milestone for Eustream which complements our traditional position of the major gas highway for the EU. A participation in the leading gas trading platform in Central Europe is a logical extension of our business as one of the most important transmission system operators in this region," says Gunnar Löwensen, Member of the Board of Directors of Eustream, the Slovak gas transmission system operator.

"With Eustream's participation, the CEGH has gained a partner who, along with the Vienna Stock Exchange, is capable of making a significant contribution to the development of CEGH and to the increase of liquidity of the gas hub. With Eustream on board, CEGH will increase its importance to customers and will contribute to the security of supply in Central Europe," says Hans-Peter Floren, OMV Executive Board Member for Gas and Power and Chairman of the Supervisory Board of CEGH AG.

Following the Eustream acquisition, OMV Gas & Power GmbH will hold 65% of CEGH, with the Vienna Stock Exchange still holding 20%. A possible participation of other natural gas producers is not excluded in future.

CEGH becomes the operator of the Virtual Trading Point for Austria.
In July 2012, CEGH switched to Trayport ETS from the previous trading systems. Traders now have the full benefits of Trayport Global Vision and are able to trade on several markets on one screen at the same time.  Also, by end of the year, CEGH plans to introduce its "CEGH Gas Exchange Within-Day Market of Wiener Boerse", where balancing energy for natural gas networks will be traded. The "entry-exit" system will be introduced at the beginning of 2013 and CEGH will take over the role of operator of the Virtual Trading Point for Austria.
 

Background information
Central European Gas Hub AG

The Central European Gas Hub (CEGH) is a subsidiary of OMV Gas & Power GmbH and one of the leading natural gas trading platforms in Continental Europe. It provides a trading platform for international gas companies in Baumgarten and other points where the Austrian grid crosses the border. In 2011, the CEGH established itself as Continental Europe's leading trading platform when it achieved a trading volume of nearly 40 bcm. OMV, the Vienna Stock Exchange and Eustream are committed to establishing CEGH as one of Continental Europe's biggest gas hubs and will continue to expand the service offering.

OMV Aktiengesellschaft
With Group sales of EUR 34.05 bn and a workforce of 29,800 employees in 2011, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.13 bn boe as of year-end 2011 and a production of around 288,000 boe/d in 2011. In Gas and Power, OMV sold approximately 272 TWh of gas in 2011. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 101 bcm in 2011. With a trading volume of around 40 bcm in 2011, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. In Refining and Marketing, OMV has an annual refining capacity of 22.3 mn t and as of the end of 2011 approximately 4,500 filling stations in 13 countries including Turkey. OMV further strengthened its position through the ownership of a 97% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.

Sustainability
OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The company reports on its activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines.

Eustream
Eustream, a.s. (www.eustream.sk) is the Slovak gas transmission system operator with a transmission system capacity of over 90 bcm/year, covering a total length of 2,270 km.
Since 1972, Eustream has secured the transmission of more than 2 trillion cubic meters of natural gas across the territory of the Slovak Republic. The company therefore successfully continues in the tradition of the Slovak gas industry, which dates back over 150 years.
Eustream guarantees access to the Slovak transmission system in a transparent and non-discriminatory way, providing a full range of services in the field of natural gas transmission. Its main customers are international energy companies.