Gaz de France acquires Romanian gas storage

Gaz de France has acquired a 59% stake in Depomures, the second-largest gas storage operator in Romania, and manager of the Tirgo Mures storage facility.

Oct 5th, 2007

Doris Leblond
OGJ Correspondent

PARIS, Oct. 5 -- Gaz de France has acquired a 59% stake in Depomures, the second-largest natural gas storage operator in Romania, and manager of the Tirgo Mures storage facility in the northern part of that country.

Tirgo Mures, which lies in a depleted gas field, can store as much as 300 million cu m of gas—a capacity that could increase to 600 million cu m by 2011-12.

Other Depomures interest holders include Romgaz 40% and other minority shareholders 1%.

GDF already holds 65% interest in Amgaz, the third-largest Romanian gas storage operator with a capacity of 40 million cu m of gas. This latest deal sets up GDF as one of the largest private investors in the Romanian gas storage market.

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