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October 31, 2020

E.ON might sell its natural gas transport grid

E.ON is analysing the sale of its natural gas transport grid, after the German government’s decision to give up nuclear energy forced the German group to sell assets and lay off employees, said a source quoted by Reuters and Mediafax. The group might decide to sell Open grid Europe, a subsidiary of the Ruhrgas division that operates 12,000 km of gas pipes and has about 1,400 employees – some 44 pc of the workforce of Ruhrgas. “The division was put on sale,” said the source, adding that the process is in its early stages and no negotiations are being carried now. E.ON acquired Ruhrgas against EUR 10 bln in 2003, from a group that included RWE, ThyssenKrupp, Exxon Mobil, TUI and RAG. Officials of the German company refused to comment the news. E.ON is affected by the decision of German authorities to stop using nuclear energy, and it announced last week a business reorganisation plan that includes 11,000 layoffs.

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