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Ownership change won’t affect business model of E.ON gas storage unit

Energy Trade

The business model of German utilities company E.ON's gas storage unit in Hungary is expected to remain unchanged after its acquisition by the state is closed, E.ON Földgáz Storage chairman Axel Wietfeld told MTI. Wietfeld said the company's task would be to continue providing flexible services to gas market players. He added that no layoffs were expected as a result of the change in ownership. The state-owned Hungarian energy group MVM agreed in March to buy E.ON's gas storage and gas trade businesses in Hungary for about €870 million. The transaction is expected to be closed in the second half of this year.

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