Swiss MET Group Expands in Germany with KGE Acquisition

Swiss energy company MET Group has announced the acquisition of German natural gas storage operator KGE, a move that adds 2 terawatt hours of capacity to MET's existing gas storage assets in Germany.

The acquisition expands MET's reach to three sites in Germany, complementing its current facilities in Lower Saxony and Hesse. While the financial terms of the deal remain undisclosed, the strategic importance is clear.

KGE operates a high-calorific gas cavern storage facility, contributing 179 million cubic meters to MET's portfolio. MET CEO Benjamin Lakatos highlighted the acquisition as a key expansion in the German market and a testament to MET's capability to add value to European gas markets.

(With inputs from agencies.)