MET Group to acquire the gas storage business of VNG-backed Gas-Union.

MET Group, a Swiss-based European energy company, agreed to acquire the gas storage business of VNG-backed Gas-Union, a provider of transmission and distribution of natural gas to local distributors and industries. Financial terms were not disclosed. “It was a long overdue step to add physical assets and direct sales to end-consumers to MET’s already existing wholesale activities in the German market. Customer relationships, as well as assets are an essential part of our integrated strategy focusing on gas, power and renewables,” Jan Massmann, MET Group Vice Chairman of the Executive Board.