Canadian pension fund buys US plants
A new natural gas marketer, HydroWingas, received European Commission approval in early February to supply gas in the UK. The 50-50 joint venture between Norwegian energy, aluminium and chemicals group Norsk Hydro and German gas company Wingas says it would “start business activities immediately”.
Based in Twickenham, near London, the company plans to sell natural gas directly to major industrial end customers and to redistributors. As an independent company, HydroWingas will buy the gas from the market, third parties or its owners.
HydroWingas is approaching potential customers now, says Hege Marie Norheim, a spokeswoman for Norsk Hydro. The company expects to steadily build revenue and to have a foothold in the market within two years, she told Energy Risk.
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