Czech Gas Networks Investments S.à r.l. is a private limited liability company (société à responsabilité limitée) organised and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 20 Boulevard Royal, L-2449, Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg trade and companies register (Registre de commerce et des sociétés, Luxembourg) under number B233.444. Czech Gas Networks Investments S.à r.l. was incorporated in the Grand Duchy of Luxembourg on 22 March 2019 for an unlimited duration. The notarial act of incorporation was published on 11 April 2019 in the Recueil Electronique des Sociétés et Associations under reference RESA_L190058512.
In the Czech Republic, the gas supply situation is currently stable and gas storage levels are increasing on a daily basis (approx. 53% as of today).
For the time being, the current situation of the conflict between Russia and Ukraine does not have any immediate effect on the secure and reliable supply of natural gas to our end customers.
It operates almost 65,000 km of networks with approximately 2.3 million off-take points. GasNet is the owner and operator of the distribution network of natural gas starting from the exit point of the transmission networks through gas distribution systems and delivering the natural gas to end-consumers.
GasNet’s activities are currently focused on the safety and reliability of gas supplies to its customers. In addition to natural gas distribution and capacities in the distribution network, GasNet is responsible for operating and maintaining the gas distribution network and is involved in gas balancing, dispatching and ensuring the security of supply for households.
GasNet Služby operates and maintains gas installations for GasNet. The main objective is to ensure safe, reliable and economical operation of gas facilities, including inspections, repairs, maintenance, meter management and reading.
GasNet covers 80% of the country’s gas distribution and manages pipelines in all regions of the Czech Republic outside of Prague and the South Bohemian Region.
GasNet and GasNet Služby are wholly owned by a consortium of investors led by Macquarie Infrastructure and Real Assets (MIRA), which includes the British Columbia Investment Management Corporation (BCI) and Allianz Capital Partners, representing the Allianz Group’s insurance company.
In 2019, the European Commission approved E.ON’s acquisition of innogy’s distribution and consumer solutions businesses, as well as certain generation assets, during a complex asset swap with RWE AG. Due to competition concerns, innogy Czech Republic was not permitted to be part of this deal. As a result, innogy SE and RWE AG companies signed an agreement under which they sold their stake in innogy Grid Holding, a.s., and thus their Czech gas distribution companies. The shares in innogy Grid Holding were offered to a consortium of investors led by MIRA, which decided to exercise its pre-emptive right and increase its stake in the company from 49.96 to 100 percent.
Since October 2019, GasNet has become independent of the innogy Group, and the MIRA-led consortium has thus become the sole owner of Czech Grid Holding, parent company of GasNet and GasNet Služby.