Download News as rtf

RWE AG
Pressemitteilung
Antitrust law does not justify rejection of Saar
Ferngas takeover
Essen, 15.03.2007, RWE AG
- Decision by Federal Cartel Office hampers competitive development of the gas
market
- Disadvantages for Saarland and Rhineland Palatinate
RWE regrets the decision by the German Federal Cartel Office to reject the takeover
of Saar Ferngas by RWE. This decision is incomprehensible for the company.
RWE had indicated to the German Federal Cartel Office in a last step that it would offer
compensations that go far beyond what is common practice.
The regions of Saarland and Rhineland Palatinate would have derived considerable benefits
from the acquisition of Saar Ferngas. RWE would have further developed Saar Ferngas’s
service provisions to municipal and industrial customers in the region. This move would have
provided important momentum for the economy in the area and would have provided a
significant impetus for competition on the German gas market, which has considerable
potential for development. However, the rejection by the Cartel Office weakens the
development of competition of the German gas market, which has so far been shaped by the
dominance of other competitors. Against this background, RWE is unable to understand the
rationale behind this decision – especially from an antitrust perspective.
In view of the increasing demand for gas across Europe, RWE is committed to pursuing its
goal of continuing to further expand the gas business. This expansion strategy includes the
following projects:
Construction of the Sayda-Werne pipeline (760 km pipeline from the Czech
border through Germany to Belgium)
- LNG (business with liquefied gas not bound to pipelines)
- Reduction of gas market areas
- Development of a liquid gas wholesale market