MET Group Adds Third Gas Storage in Germany After Acquiring KGE Sales Hit 17.9 Billion Euros in 2024
Swiss-based MET Group, a subsidiary of Hungary's MOL, has acquired full ownership of German gas storage operator KGE, expanding its footprint to three storage sites in Germany. The newly acquired facility is located in North Rhine-Westphalia and boasts a maximum capacity of 179 million cubic meters, directly connected to Germany’s Trading Hub Europe (THE).
Prior to this deal, MET Group operated gas storage assets in Lower Saxony and Hesse. CEO Benjamin Lakatos emphasized that this move further consolidates MET’s position in Germany and demonstrates the group’s commitment to the European energy market.
Operating in 17 countries, MET Group recorded €17.9 billion in sales in 2024, handling 140 billion cubic meters of natural gas and 76 terawatt-hours of electricity. The acquisition strengthens MET’s strategic role in supporting Germany’s energy infrastructure and security.
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