Snapshot of E.ON AG (EOAN)

E.ON AG announced that it will start four projects in northern Germany, aiming to inject biogas into the natural gas networks. The utility will invest around EUR 20 million in this and in similar projects by the end of 2012. The company plans around 1,700 cubic metres of biogas per hour to be fed into E.on's networks in Hamburg, Schleswig-Holstein and Mecklenburg-Vorpommern, which will allow more than 8,000 households to be supplied with gas annually. Through the move the company aims to create new opportunities for incorporating renewable energy sources.

MVM Rt. is close to acquiring E.ON AG's Hungarian gas business in a short while, Világgazdaság reported. MVM is negotiating with leading officials of E.ON on their roles in the new arrangement and the new contract and the amount of the severance pay they would accept, the paper said, without citing a source. MVM has offered €800 million to acquire E.ON Földgáz Trade ZRt. and E.ON Földgáz Storage Zrt., Világgazdaság reported on June, 29, 2011 without naming its source. The offer hasn't been accepted "for now" as E.ON asked for €1.2 billion for the unit, which includes gas wholesale, import contracts and underground storage, the newspaper said. The paper said the ongoing talks suggest that some kind of agreement might have already been reached.

E.ON AG said that it is seeking to sell E.ON Energy from Waste AG as part of its €15 billion divestment program.