VERBUND holds an interest of 51% in Gas Connect Austria, 49% are held by AS Gasinfrastruktur GmbH. The latter is 60% owned by Allianz Group and 40% by Snam S.p.A..
Overview of the companies
VERBUND is Austria’s leading energy company and one of the largest producers of hydroelectricity in Europe. The Group generates around 95% of its electricity from renewable energy, primarily from hydropower. VERBUND trades electricity in 12 countries and generated around €3.2 bn in annual revenue in 2020 with approximately 2,900 employees. With its subsidiaries and partners, VERBUND is active in the generation of electricity, transmission and in international trading and sales. VERBUND has been quoted on the Vienna Stock Exchange since 1988 with 51% of the share capital being held by the Republic of Austria.
Allianz is one of the world's leading financial groups. They offer their customers a wide range of insurance and asset management services. The company employs approximately 140,000 people in over 70 countries. At the end of 2016, the Allianz Group managed an investment portfolio of around 653 million euros and is active in several areas. Allianz Capital Partners (ACP) is the joint investment manager of the Allianz Group for Alternative Asset Management. ACP manages about 18 billion euros an alternative investments. The investment focus is on investments in infrastructure, renewable energies and private equity funds. The investment objective is to generate attractive, long-term and stable returns and to diversify the investment portfolio for Allianz insurance companies.
With a length of 40,200 kilometers, SNAM operates Europe's largest and most connected natural gas network and, with a capacity of 19 billion m³, one of the largest natural gas storage facilities in the European Union. SNAM invests in Europe with the aim of promoting the European integration of gas networks. SNAM has been operating in Austria for more than 40 years. In close and successful partnership with OMV and later with Gas Connect Austria, the Trans Austria Gasleitung (TAG) was developed. TAG is the backbone of the Austrian natural gas infrastructure and is approximately 85% owned by SNAM, with approximately 15% of the shares held by Gas Connect Austria.