RWE has started sales process for Czech gas storage business

The logo of German power supplier RWE is displayed at RWE headquarters in Essen, Germany, November 15, 2021. REUTERS/Thilo Schmuelgen

FRANKFURT, May 17 (Reuters) – RWE (RWEG.DE), Germany’s largest electricity producer, has begun a process to dispatch its gas storage business to the Czech Republic, it said on Tuesday. and added that it has already received encouraging feedback from potential European buyers.

“The importance and beauty of the business is indisputable, especially in the current situation,” a company spokesperson said, adding that the sales process is very efficient.

RWE Gas Storage CZ operates six underground gas storages with a total volume of 2.7 billion cubic meters, enough to supply the Czech Republic for two months during the winter, according to the group’s website.

Reporting by Christoph Steitz; Edited by Madeline Chambers and Edmund Blair

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