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E.ON, Gaz de France fight for Petrom's gas distribution

Two of the largest utilities companies worldwide, E.ON Germany and Gaz de France (GdF) are competing to take over Petrom Distributie Gaze (PDG), Romania's largest company's gas distribution division.

Oil group Petrom is negotiating since the end of 2007 the sale of its gas distribution branch to one of the two players on local market, E.ON, owner of gas distributor Distrigaz Nord and GdF, owner of Distrigaz Sud. The market value of Petrom's gas distribution division amounts to €50 million to €70 mln, but the transaction could exceed these estimations, according to market sources. 'Distrigaz Sud is still interested in buying small distribution companies in its operating area, which could contribute to the company's development,' Distrigaz officials said. E.ON representatives declined to comment on the matter, but said the company will consider investments only if they are justified by large savings and know-how transfer. They added that E.ON will remain very selective regarding future investments. Petrom representatives said that PDG will be sold to a strategic partner interested in the company's development. Petrom plans to sell PDG, as it is not part of its core business activities. The company, owned by Austrian company OMV, sold all operations not related to oil and gas production. PDG had a market share of 1 percent last year and supplied 42 cities. 'Petrom's domestic clients number on gas distribution area is increasing each year by 8-10 percent,' company official said. The acquisition of PDG could consolidate the market share of both E.ON and Distrigaz Sud. According to Romanian Energy Regulatory Authority (ANRE), E.ON Gaz had a market share of 45 percent last year, while Distrigaz Sud had a market share of 47 percent. The local gas market rose to some €6 billion last year, due to higher prices. The national gas consumption amounted 16.4 bln cubic meters. Some 70 percent of gas burnt in 2007 came from internal production and the rest was imported from Russia. Both GdF and E.ON plan to become integrated utilities suppliers for domestic and industrial segments. Sursa: http://www.rompress.ro

Tags: distribution market percent distrigaz

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