Eustream Takes Stake in Central European Gas Hub

Slovakian gas transmission system operator Eustream is set to strengthen its presence on the European gas exchange with the acquisition of a 15 per cent stake in the Central European Gas Hub (CEGH).

The acquisition, announced today by OMV, which now holds a 65 per cent stake in CEGH, will see Eustream gain access to the seven-year old CEGH. The deal will also boost the significance of the CEGH for Central and South-Eastern Europe, OMV said today.

CEGH, which has been in existence since 2005, is a gas trading and exchange network crossing the Austrian gas grid, which currently counts 147 members. The hub traded a volume of almost 40 billion cubic metres of gas last year. 

Eustream said today that the deal would solidify its current position in the market, adding value to its own operations.

"Joining CEGH is an important milestone for Eustream which complements our traditional position of the major gas highway for the EU," Eustream Board Member Gunnar Löwensen said today. "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."

Wiener Boerse, the Viennese Stock Exchange, is the third stakeholder in the Central European Gas Hub with a stake of 20 per cent.