Commission européenne, DG  COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels,  10.10.2022  
C(2022 ) 7317 final  
PUBLIC VERSION  
Kreditanstalt für Wiederaufbau  
Palmengartenstrasse 5 -9 
60235 Frankfurt am Main  
Germany  
 
N.V. Nederlandse Gasunie  
Concourslaan 17  
NL – 9727 KC Groningen  
The Netherlands  
Subject : Case M. 10909  – KFW / NEDERLANDSE GASUNIE / JV  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 16 September 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger Regulation , by which the 
undertakings Kreditanstalt für Wiederaufbau (“KfW”, Germany), ow ned by the 
Federal Republic of Germany and the German Federal States , and N.V. Nederlandse 
Gasunie (“Nederlandse Gasunie”, the Netherlands) , which is the ultimate parent 
company of the Gasunie group of companies ( the Netherlands) , will acquire within the 
meaning of Article 3(1)(b)  and 3(4)  of the Merger Regulation joint control over 
German LNG Terminal GmbH (“GLNG”, Germany), by way of purchase of shares .3 
2. The business activities of the undertakings concerned  are the following : 
 KfW  is a national promotional bank that aims to support the sustainable 
improvement of economic, social and ecological living conditions worldwide on 
behalf of the Federal Republic of Germany a nd the Federal States,  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 367, 26.9.2022, p. 17. 

2  Nederlandse Gasunie  develops, manages and ma intains energy infrastructure, i.e. 
gas transport networks, international transit pipelines, gas storage facilities, gas 
conversion installations and LNG infrastructure, as well a s virtual gas trading 
platforms . 
3. GLNG has the purpose to build, own, and oper ate a Liquefied Natural Gas (“LNG”) 
re-gasification facility (the “Terminal”) in Brunsbüttel, north of Germany. The 
envisaged scope of the Terminal is the operation of an LNG import and distribution 
terminal.   
4. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (c) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No 139/2004 .4 
5. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.