February 12, 2015 / 11:08 AM / 3 years ago

GDF Suez sells Hungary free market gas portfolio to MET

BUDAPEST, Feb 12 (Reuters) - GDF Suez will end its free market natural gas retail activity in Hungary from July and sell this portfolio to Swiss-based energy trader MET Hungary, the companies said in a joint statement on Thursday.

“According to the recently signed agreement, after the approval of the GVH (competition authority), MET Hungary Ltd will take over a part of the existing Hungarian (free market) gas portfolio of GDF SUEZ,” the statement said.

GDF Suez said it would keep on supplying gas to customers in the universal market segment and continue its gas distribution activity in six counties through its Egaz-Degaz unit.

MET Group is present in eight countries via subsidiaries, and pursues trading activities in 14 national gas markets and 13 European gas hubs, the statement said. (Reporting by Gergely Szakacs and Krisztina Than)

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