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    Gazprom Export takes over Centrex gas trader

Summary

Centrex operates in Austria, Hungary, Italy and Serbia.

by: NGW

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Gazprom Export takes over Centrex gas trader

Russia's Gazprom Export announced on June 23 it had closed the acquisition of trading group Centrex Europe from Gazprombank, a subsidiary of its parent company Gazprom.

Centrex, which is involved in gas trading, storage and transportation in Austria, Hungary, Italy and Serbia "continues ordinary business activities and will fulfil all current obligations towards customers and partners," Gazprom Export said in a statement. It did not disclose details of the transaction.

Austria, Hungary, Italy and Serbia all rely on Russia for a substantial share of their gas imports. Russian president Vladimir Putin recently said Gazprom's sales to Europe might exceed 200bn m3 this year, up from 175bn m3 in 2019. Demand is rebounding with the post-coronavirus economic recovery.