KfW IPEX-Bank has announced the extension of its credit line for Trading Hub Europe GmbH (THE), continuing a partnership that began in 2022. This marks the third time the credit line has been extended, with the existing banking consortium remaining unchanged. The consortium includes Commerzbank, Deutsche Bank, LBBW, BayernLB, DZ BANK, NORD/LB and UniCredit. KfW IPEX-Bank continues to serve as sole mandated lead arranger, bookrunner and agent.
“This mandate underpins the excellent customer relationship we have with our customer THE,” said Aida Welker, Member of the Management Board of KfW IPEX-Bank. “We have been supporting THE for many years and thus also the security of supply in Germany, which is essential for both the population and the economy. We are also contributing to the construction of the hydrogen core network throughout Germany and thereby helping to drive the transformation of the energy supply.”
Trading Hub Europe GmbH manages gas market operations across Germany. In 2024, responsibility for financing and managing amortisation accounts related to Germany’s hydrogen core network was transferred by the Federal Network Agency to H2 Amortisationskonto GmbH—a company majority owned by THE. KfW was tasked with financing this amortisation account through a EUR 24 billion credit line.
Trading Hub Europe GmbH was established on June 1, 2021 as a result of cooperation among several network operators including bayernets GmbH, Fluxys TENP GmbH, GASCADE Gastransport GmbH, Gastransport Nord GmbH, Gasunie Deutschland Transport Services GmbH, NaTran Deutschland GmbH, Nowega GmbH, ONTRAS Gastransport GmbH, Open Grid Europe GmbH, terranets bw GmbH and Thyssengas GmbH. The company operates a high-pressure pipeline system spanning approximately 40,000 kilometers across Germany and connects over 700 downstream grids.
As market area manager, THE is responsible for balancing group management and operation of virtual trading points as well as procurement of balancing energy. The company plays an important role in maintaining natural gas supply within Germany and across Europe. Additionally, THE is overseeing operational structures for a planned hydrogen core network covering more than 9,000 kilometers; initial pipelines totaling 525 kilometers are expected to become operational in 2025 with full completion targeted by 2032.