Croatia: Gas distributor and supplier Termoplin’s acquisition

The Varazdin municipality is planning to sell its share in the most profitable of municipal companies – gas distributor and supplier Termoplin, according to local media.

Recently, HEP Plin, a subsidiary of state-owned power utility HEP, bought gas distribution network in Bizovac municipality, while local subsidiary of German E.ON acquired gas distributors Plin-Projekt and Moslavina Plin. However, this is not the end of consolidation of Croatian gas market. Next in line for the acquisition could be one of the largest players in the market – Termoplin from Varazdin.

Termoplin is one of the largest gas distributors and suppliers in Croatia, which operates on the territory of two counties: Varazdin and Krapina-Zagorje. The company has over 40,000 customers, of which some 35,500 residential. It operates over 1,500 kilometers of gas distribution network and in 2019, Termoplin distributed 101 million cubic meters of gas. The company is majority owned by Varazdin municipality.

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