The hydrocarbons reserves covered by this acquisition, located in the north-west German basin, comprise an estimated 25 billion cubic meters of natural gas and 50 million barrels of oil. Annual plateau production, currently totaling around 1.4 billion cubic meters of natural gas and 4 million barrels of oil, will raise the Group's natural gas production capacity by almost 50%, to 4.6 billion cubic meters.
This transaction, totaling nearly 1 billion euros, also includes the buyback of interests held by Preussag Energie:
As part of this acquisition, Gaz de France will also take charge of the Lehrte storage site near Hanover.
"This investment strengthens the Group's presence and integration in Germany, the largest gas market in continental Europe. It is part of Gaz de France's growth and integration strategy and contributes to the Group's short term objective of producing 15% of the natural gas it sells", explains Pierre Gadonneix, Chairman and CEO of Gaz de France.
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