ČEZ Group is acquiring Gas Distribution, a company operating the gas distribution system in southern Bohemia and part of the Vysočina Region
ČEZ Group has signed a purchase agreement for the acquisition of 100% of Gas Distribution s.r.o., the operator of the gas network in the South Bohemian Region and part of the Vysočina Region. With this acquisition through its subsidiary GasNet, s.r.o., ČEZ Group will expand its gas network to the last remaining region and will distribute gas throughout the Czech Republic, with the exception of Prague. The gas network plays an important role in the transformation of the Czech heat energy sector and its transition from coal to natural gas and subsequently to hydrogen. The seller is E.ON. The completion of the transaction is subject to necessary regulatory approvals.
“ČEZ is focusing on emission-free energy as part of its Clean Energy Tomorrow strategy. Nuclear power plants and renewables will play key roles in electricity generation in the future. At the same time, gas will also play an important role as a source for steam-gas power plants and for new Czech thermal power plants, which will replace the decommissioned coal-fired power plants in the Czech Republic. ČEZ has become a major player on the gas market: together with the state we secured capacity in two LNG terminals for the Czech Republic, we operate a key distribution network through GasNet, and we are also an important supplier of gas to customers. The acquisition of Gas Distribution will also add another stable company to our portfolio in the regulated part of the business, which is beneficial for our shareholders," said Daniel Beneš , Chairman of the Board of Directors and CEO of ČEZ .
Gas Distribution manages a network of 4,600 kilometres of pipelines with a total of 111,000 customer points, employs approximately 120 people and distributed 2.8 TWh of gas in 2024. The GasNet group manages a network of 65,000 kilometres of pipelines, has more than 2,200 employees, serves approximately 2.2 million customer points and distributed over 59 TWh of gas last year.
"I am very pleased that we have been able to reach an agreement with the seller on the acquisition of Gas Distribution. We believe that GasNet and Gas Distribution experts together will form a strong and well-functioning team of technical specialists. Once the transaction is settled, we intend to gradually integrate Gas Distribution into the GasNet Group. Gas will be a key energy source for ensuring the Czech Republic's energy security in electricity and heat supply in the years to come, and we are pleased to be able to rely on additional experts to help us achieve our goals," said GasNet CEO Andrzej Martynek.
