VERBUNDNETS GAS AG (GERMANY)
Verbundnets Gas Joint-stock company (VNG) is one of the largest importers and suppliers of natural gas in East Germany controlling 95% of the market. The Company’s share in national gas market of Germany amounts to 16%.
VNG has been cooperating with the Russian gas industry since 1973. Over this period East Germany has received some 160 bcm of natural gas from Russia. Contracts concluded are in force up to 2012. Providing VNG with almost 50% of all gas needed, Russia has become the company’s leading supplier with 25% of gas received from local sources and Norway, 25% and more.
VNG receives gas on the Ukrainian-Slovak border near Velke–Kapushany. Gas enters VNG’s network in Malnov near Frankfurt-on-Oder. VNG has become the first European Gas Company, which started to receive gas under the Yamal - Europe project.
According to the 2000 VNG annual report, net profit is Euro million 48.
VNG considers mutual relations with partners in a wide business context: cooperation with Gazprom is carried out in scientific and technical, cultural and social issues.
Since 1999, the Agreement on cooperation between Gazprom and the Verbudnets Gas АG company in the information exchange and public relations has been in force.
VNG is the sponsor of the National man's handball team of Russia. Over the last three years the German Company helped the talented musicians from Russia to participate in performances of the International Musical Academy in Altenburg. Thus, two string quartets from Russia took part in the musician festival in 2000. Besides, since 1996 VNG company have been rendering financial and technical support to the Moscow-based amateur children's animation studio "Aistyata".