The Italian company Eni has signed an agreement with the German company MET Holding regarding the divestment of a 98.99% share in its Hungarian gas distribution subsidiary Tigaz. The deal was reached after the completion of a competitive tender. It is subject to regulatory approval by the relevant Hungarian authorities.
Tigaz operates a gas distribution network of 37,700 km with 1.2 million delivery points in North-Eastern Hungary, which represents approximately 48% of the country's grid. In 2016, the company accounted for 14% of gas sales on the retail market.Tigaz's universal service licence was transferred to state-owned ENKSZ (First National Public Utility Provider Company) that was created in 2015 and Eni sold Tigaz's business and industrial customer portfolio to RWE in April 2016. After the sale of its gas distribution activities, Eni will exit from the Hungarian oil and gas sector.