Energie Steiermark buys majority stake in Beogas

The Austrian company Energie Steiermark is going to buy 67 percent of the Belgrade-based private company Beogas, which supplies the capital city of Serbia with gas, for 7.4 million euros, the Austrian company announced.

By taking the majority stake in Beogas, the Austrian company will also get a concession for supply of gas to the territory with about 410,000 consumers.

Beogas currently supplies gas to 60% of consumers in Belgrade. Wit the arrival of Energie Steiermark, the existing gas supply network of Beogas, spanning about 200 km, will be significantly expanded within next few years.

Over the last few years, Beogas was selling 15m cubic meters of gas per year, while its clients were about 9,000 households and around 50 industrial users.

The company's long-term goal is to increase the number of consumers to minimum 42,000 and to have a gas supply network about 500 kilometers long, said Chairman of the Management of Energie Osvin Kois.