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Energy office withdraws Panrusgaz gas-trading license at company's request

The Hungarian Energy Office (MEH) has withdrawn the gas-trading license of Hungarian gas trader Panrusgaz at the company's request, the business daily Világgazdaság reported.

Panrusgaz requested in December that MEH withdraw the company's gas-trading license, which it did not use and subjected the company to the government's three-year crisis tax on Hungary's energy sector.

Panrusgaz says that the withdrawal of the license exempts the company from the crisis tax beginning with its inception in 2010.

Panrusgaz will continue its primary activity as an intermediary in selling gas from Russia in Hungary - mainly from Gazprom, to E.ON Földgáz Trade, the Hungarian gas-trade unit of German energy company E.ON - after withdrawal of the license, though at a location outside, rather than within, Hungary.

Gazprom Export, E.ON Ruhrgas International AG, and Centrex Hungaria Zrt own Panrusgaz. Cyprus-based GH Gas Holdings and Austria-based RN Privatstiftung own Centrex Hungaria.