European Commission approves Slovenia's Petrol acquisition of natural gas supplier

The European Commission said on Monday it has approved the proposed acquisition of natural gas supplier Geoplin by energy group Petrol, both based in Slovenia.

Following the Commission's investigation, which focused on the markets for downstream wholesale supply of gas and retail supply of gas in Slovenia, it concluded that the proposed acquisition would raise no competition concerns.

It said in a statement."On the gas wholesale market, the Commission found, among other things, that the parties' customers already source, or are planning to source, gas directly from the Central European Gas Hub located in Austria.

In addition, there are no constraints on interconnection capacity between Slovenia and neighbouring Member States," the Commission noted.In terms of the gas retail market, the Commission established that there are a number of alternative suppliers available to customers and that the transaction will have a limited impact on the retail gas supply market structure in Slovenia.

Geoplin's activities concern the supply, trade and related services in the natural gas market. Petrol is active in retail and wholesale of petroleum products, sales of commercial goods and natural gas.