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FGSZ to manage and control the whole Hungarian high-pressure natural gas transmission system

2019. 06. 28.

Let us inform you that FGSZ Földgázszállító Zrt signed a set of agreements on the purchase of the business of Magyar Gáz Tranzit Zrt. (MGT). With this transaction, the 92km long Hungarian-Slovak interconnector gas pipeline and the connected equipment and facilities will be owned by FGSZ Ltd., thus FGSZ Ltd. will manage and control the whole Hungarian high-pressure natural gas transmission system.

The unified operation strengthens the security of the natural gas supply of Hungary and the region, and also ensures a more focused representation of professional aspects.

“Synergies in integrated operation can not only lead to efficiency gains but also highly contribute to the security of the natural gas supply. FGSZ Ltd. - in line with its international reputation – continues to provide its services with a professional team, focusing on ensuring continuous and safe supply and the satisfaction of its Partners” – said Szabolcs I. Ferencz, Chairman-CEO of FGSZ.

The terms and conditions of the transaction, including the licensee's activity, the takeover of employees and assets, and the purchase price are determined in the relevant Government resolution No. 1366/2019.

The acquisition will be implemented in the second half of 2019.

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