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Detail – Energy Country Profile

Hungary is considering buying RWE's 49% stake in Főgáz gas company

The Hungarian government is considering nationalising RWE's stake in Budapest gas utility Főgáz by the end of the year. RWE currently holds a 49.8% stake in Főgáz, with the municipality of Budapest a 50% shareholder.

In 2012 Főgáz supplied some 885 mcm of natural gas to over 800,000 households in the capital city and its environs. The acquisition would be part of the nationalisation process initiated by the government, following MVM's recent acquisition of E.ON's gas trade and storage activities in the country. In September 2013, the government had announced its plans to nationalise six or seven utilities to boost economic growth and lower residential energy bills.

Source: http://www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/ 12 December 2013

12 December 2013 - Hungary is considering buying RWE's 49% stake in Főgáz gas company - See more at: www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/hungary-considering-buying-rwes-49-stake-fogaz-gas-company_24403.html

In 201 Főgáz supplied some 885 mcm of natural gas to over 800,000 households in the capital city and its environs. The acquisition would be part of the nationalisation process initiated by the government, following MVM's recent acquisition of E.ON's gas trade and storage activities in the country. In September 2013, the government had announced its plans to nationalise six or seven utilities to boost economic growth and lower residential energy bills. - See more at: www.enerdata.net/enerdatauk/press-and-publication/energy-news-001/hungary-considering-buying-rwes-49-stake-fogaz-gas-company_24403.html