Transfer of network ownership to the transport company
Kassel. The network company WINGAS TRANSPORT will take over the ownership of the existing long-distance pipeline network of WINGAS GmbH & Co. KG by way of a transfer of ownership. An entry to this effect has now been initiated in the commercial register. The transfer of the network is to have financial retroactive effect as of 1 January 2010. Once the transfer of the network has been entered into the commercial register, WINGAS TRANSPORT GmbH will be the owner and operator of the pipeline network. In transferring ownership of the network from the parent company to WINGAS TRANSPORT, the WINGAS Group is implementing the requirements of the EU's third energy market liberalization package early. These provisions include a further separation (unbundling) of supply and transport. Once the directive has been transposed into German law, gas companies will have to comply with the new legislation from March 2012. The WINGAS Group already transferred the transport company to an independent subsidiary in 2006. The network operations have so far been conducted on the basis of a leasing agreement between the two companies.
Since 1990 over three billion euros have been invested in the construction and expansion of the trans-regional high-pressure pipeline network of the WINGAS Group. Over the last 20 years, the pipeline network, which is over 2,000 kilometers long, has evolved into a central hub of European natural gas transport and links the major import points for Russian natural gas and gas from the North Sea with the end customers in Europe. The pipeline network currently in place includes nine compressor stations across Germany and has a capacity of over 400 megawatts. As well as providing access to modern natural gas infrastructure, WINGAS TRANSPORT offers diverse transport services geared towards national and international natural gas companies. The connecting pipeline for the Nord Stream Baltic Sea pipeline already under construction, the so-called OPAL pipeline (Ostseepipeline-Anbindungsleitung - Baltic Sea Pipeline Link), and the planned NEL pipeline (Nordeuropäische Erdgasanbindungsleitung - North European Gas Pipeline) will not be transferred to WINGAS TRANSPORT.
European energy provider WINGAS GmbH & Co. KG is active in natural gas trading and distribution in Germany, Belgium, France, Great Britain, Austria, the Czech Republic and Denmark. Its customers include municipal utilities, regional gas suppliers, industrial firms and power plants. In Rehden in North Germany, WINGAS has the largest natural gas storage facility in Western Europe - with a working gas volume of over four billion cubic meters, and the company also participates in Central Europe's second largest storage facility in Haidach, Austria. Additional natural gas storage facilities are currently being built in Great Britain and Germany in order to secure the supply of natural gas in Europe.