The natural gas industry in the DACH region serves as a critical player in the energy market, characterized by a blend of traditional and innovative approaches. It hosts a variety of companies, from major corporations to emerging startups, all engaged in the exploration, extraction, distribution, and sustainability of natural gas. As the region shifts towards renewable energy, natural gas is increasingly seen as a transitional solution, bridging old and new technologies. The DACH market is witnessing greater investment in infrastructure and new technologies, positioning natural gas as a vital component of a cleaner energy future.


In 2024, a mix of corporate and private equity investors made their mark in the DACH natural gas sector. Companies like OMV and Partners Group, founded as early as 1956 and 1996 respectively, have operated in this area with sizable teams and investments. With deal counts varying from one to thirty-two, these investors reflect a robust interest in both established players and innovative startups, indicating a dynamic investment environment that's adapting to current energy trends.


Top 15 Natural Gas Investors in DACH


1. Mercuria


Mercuria Energy Group Ltd. is an energy trading company based in Geneva, Switzerland, founded in 2004. The company operates globally in the commodity markets, with a focus on crude oil, natural gas, and renewable energy. Mercuria provides trading services, investment in sustainable projects, and solutions for businesses transitioning to net zero. Notably, they have been involved in several significant transactions in the natural gas sector, including the acquisition of Noble Americas Gas & Power Corp. in 2017, which highlights their strategic interest in natural gas assets. In 2024, they participated in debt financing for Northwind Midstream Partners, further demonstrating their active role in the natural gas industry. Their diverse customer base includes various industries that rely on energy procurement and management, reinforcing their position as a key player in the energy market.


2. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a leading investment bank and financial services provider. With over 10,000 employees, it offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. In 2024, Deutsche Bank was involved in 32 investments, showcasing its active role in the financial market. Notably, it participated in significant debt financing transactions, such as the $3.33 billion financing for VARO Energy, which plans to invest heavily in energy projects, potentially including natural gas. Other transactions include debt financing for companies like Pemex and BB Energy, indicating its engagement in the energy sector, which encompasses natural gas activities.


3. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative approach and commitment to sustainability. Among their notable transactions, Partners Group acquired ESENTIA Energy Systems for $750 million in 2014, showcasing their interest in energy-related investments. In 2019, they made a significant move by acquiring CapeOmega, a Norwegian midstream infrastructure company, for nearly €1.2 billion ($1.34 billion), aimed at enhancing natural gas transportation capabilities from the Norwegian Continental Shelf. Furthermore, their recent acquisition of energy assets valued at $2.2 billion from Avenue's continuation vehicle in 2025 underscores their ongoing engagement in the energy sector, which includes natural gas. These transactions reflect Partners Group's strategic focus on the energy landscape, particularly in natural gas infrastructure and assets.


4. Siemens

  • Website: siemens.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1847
  • Headcount: 10001+
  • Number of deals in 2024: 11
  • LinkedIn: siemens

Siemens AG, founded in 1847 and headquartered in Munich, Bavaria, Germany, is a prominent technology conglomerate specializing in industrial automation, energy solutions, rail transport, and health technology. With a workforce of approximately 320,000 employees, Siemens generates significant revenue through its innovative products and services aimed at enhancing efficiency and sustainability across various sectors. Notably, Siemens has engaged in several transactions that reflect its involvement in the energy sector. For instance, their acquisition of Shaw Power Technologies Inc. in 2008 bolstered their capabilities in power transmission and distribution, which can be relevant to natural gas infrastructure. Additionally, their investment in Statera Energy, which raised substantial debt financing in 2023, indicates their interest in energy projects that may include natural gas applications. However, their focus on renewable energy projects, such as the acquisition of Technology and Development Joint Stock Company (D&T) for solar projects, suggests a broader commitment to diverse energy solutions rather than a specific focus on natural gas.


5. Glencore

  • Website: glencore.com
  • Type: Corporate
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1978
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: glencore

Glencore plc is a multinational commodity trading and mining company based in Baar, Zug, Switzerland, founded in 1978. With over 10,000 employees, Glencore operates across various sectors, including metals, minerals, and energy. The company is known for supplying essential commodities such as copper, cobalt, and oil, and is committed to responsible sourcing and sustainability. In the context of natural gas, Glencore has been involved in significant transactions, including a recent investment in Tullow Oil, which raised $400 million in post-IPO debt, indicating their interest in the oil and gas sector. Additionally, Glencore's acquisition of Astron Energy, which enhances their footprint in the energy market, further demonstrates their engagement in energy-related investments. These activities position Glencore as a relevant player in the natural gas industry, despite their broader focus on various commodities.


6. Siemens Financial Services


Siemens Financial Services, based in Munich, Bavaria, Germany, is a corporate investor founded in 1997. They specialize in providing financial services that support technological advancements in various sectors, including industry, infrastructure, mobility, and healthcare. In 2024, they were involved in several significant debt financing transactions, including a $550 million investment in Clearway Energy Group, which operates in the energy sector. This transaction, along with their financing of GeoPura, a company focused on hydrogen and energy solutions, indicates their engagement in the broader energy landscape, which may include natural gas projects. Their commitment to sustainability and digital transformation aligns with the evolving energy market, where natural gas plays a crucial role as a transitional fuel.


7. Omv

  • Website: omv.com
  • Type: Corporate
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 1956
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: omv

OMV is an integrated oil, gas, and petrochemical company based in Vienna, Austria, founded in 1956. With over 10,000 employees, OMV operates in both upstream and downstream sectors, providing a wide range of oil, gas, and petrochemical products. The company has made significant investments in the natural gas sector, including the acquisition of a 24.99% stake in the Yuzhno Russkoye field from Uniper, which is a key natural gas asset in Russia. This transaction, valued at USD 1,850 million, underscores OMV's commitment to expanding its natural gas portfolio. Additionally, OMV's acquisition of a 51% stake in SNP Petrom SA, Romania's largest oil and gas company, further enhances its position in the Central European natural gas market. OMV is also exploring innovative technologies, as seen in their investments in Eavor Technologies, which focuses on geothermal energy, indicating a broader commitment to sustainable energy solutions while maintaining a strong foothold in the natural gas industry.


8. Rwe

  • Website: rwe.com
  • Type: Corporate
  • Headquarters: Essen, North Rhine-Westphalia, Germany
  • Founded year: 1898
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: rwe-

RWE is a corporate energy company based in Essen, North Rhine-Westphalia, Germany, founded in 1898. It specializes in both renewable and conventional energy solutions, providing a diverse range of services that include energy generation from wind, solar, and hydropower, as well as project management and engineering services. RWE serves municipalities, industrial partners, and utilities, assisting them in transitioning to sustainable energy sources and effectively managing their energy needs. Notably, RWE has been involved in significant transactions, including the acquisition of Con Edison Clean Energy Businesses, which expanded their renewables portfolio in the U.S. to 8 gigawatts. Additionally, RWE's historical involvement in the natural gas sector is highlighted by their stake in Innogy's gas storage businesses, which was a significant part of their operations before the acquisition by E.On. This indicates that while RWE is currently focusing on renewable energy, they have a background in natural gas that keeps them relevant in this sector.


9. Basf

  • Website: basf.com
  • Type: Corporate
  • Headquarters: Ludwigshafen, Rhineland-Palatinate, Germany
  • Founded year: 1865
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: basf

BASF SE is a multinational chemical manufacturer based in Ludwigshafen, Germany, founded in 1865. The company provides a wide range of products and solutions across various industries, including agriculture, automotive, and construction, with a strong focus on innovation and sustainability. BASF has made significant investments in the energy sector, particularly through its acquisition of Wintershall Group in 2008, which is involved in oil and gas exploration and production, including natural gas. In 2011, BASF further enhanced its energy portfolio by acquiring RWE's 50% stake in Zandvliet Power NV, a joint venture that aims to improve energy efficiency and independence at BASF's Antwerp site. These transactions highlight BASF's strategic interest in the natural gas industry, alongside its core chemical manufacturing operations.


10. Verve Ventures

  • Website: verve.vc
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 25
  • LinkedIn: investiere-venture-capital

Verve Ventures is a Zurich-based venture capital firm founded in 2010, specializing in deep tech investments across Europe. The firm provides funding and strategic support to science and technology startups, focusing on sectors such as climate tech, industrial technology, and health & bio. In 2023, Verve Ventures participated in a Seed funding round for Turn2X, a Munich-based startup that is developing renewable natural gas (RNG) production plants across Europe, raising €4.3M to accelerate its growth. This investment highlights their engagement in the natural gas sector, particularly in sustainable energy solutions. Additionally, they have been involved in various other transactions, including investments in companies like Metafuels, which may also have relevance to energy production and sustainability. Overall, Verve Ventures is positioned as a forward-thinking investor in innovative technologies, with a growing interest in the energy sector, including natural gas alternatives.


11. Sgs

  • Website: sgs.com
  • Type: Corporate
  • Headquarters: Geneva, Geneva, Switzerland
  • Founded year: 1878
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: sgs

SGS S.A. is a leading testing, inspection, and certification company based in Geneva, Switzerland, founded in 1878. With a workforce of over 10,000 employees, SGS provides independent services to ensure product quality and compliance across various industries. The company has a global presence and offers a range of services including testing, inspection, certification, and training. Notably, SGS has made strategic acquisitions to enhance its capabilities in sectors related to natural gas. For instance, the acquisition of Sulphur Experts Inc. in 2021 allows SGS to provide specialized consulting and testing services for the amine treating and sulfur recovery industries, which are critical in the natural gas sector. Additionally, SGS has expanded its environmental testing capabilities through acquisitions like Beta Analytic, which focuses on carbon dating, and Aster Global Environmental Solutions, which provides greenhouse gas validation services. These transactions reflect SGS's commitment to enhancing its service offerings in environmental and energy-related sectors, including natural gas.


12. UVC Partners


UVC Partners is a venture capital firm based in Munich and Berlin, specializing in investing in B2B startups across Europe. Founded in 2011, the firm provides financial support and strategic guidance to early-stage companies, helping them grow in competitive markets. Their portfolio includes a diverse range of innovative startups in various sectors. Notably, UVC Partners led a funding round for Reverion, a German climate tech startup that focuses on biogas power plants, raising €8.5 million to accelerate production. This investment highlights their engagement in the energy sector, particularly in renewable natural gas. Additionally, they participated in a Series A funding round for Reverion, raising over $62 million, further emphasizing their commitment to energy solutions that intersect with natural gas. Other transactions, such as those involving Molten Industries and Reel Energy, showcase their broader focus on renewable energy, but the specific involvement with biogas positions them as relevant players in the natural gas investment landscape.


13. Deutsche Beteiligungs AG

  • Website: dbag.com
  • Type: Private Equity
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1965
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: deutsche-beteiligungs-ag

Deutsche Beteiligungs AG (DBAG) is a private equity firm based in Frankfurt, Hesse, Germany, founded in 1965. The firm specializes in investments in mid-sized companies, providing capital and advisory services to enhance growth potential. DBAG has a diverse portfolio, primarily focusing on sectors such as telecommunications, IT services, software, and healthcare. Notably, in July 2023, DBAG acquired a majority stake in Avrio Energie, a move that highlights its interest in the energy sector, which may include natural gas. Additionally, DBAG has a history of acquiring companies like Clyde Bergemann Power Group and R+S Group AG, which, while not directly related to natural gas, indicate a broader interest in energy and technical services. This diversification strategy may position DBAG as a potential player in the natural gas market, depending on future developments in their investment focus.


14. Wintershall Dea


Wintershall Dea GmbH, based in Kassel, Hesse, Germany, is a corporate investor founded in 1894, specializing in the exploration and production of oil and gas. The company serves a diverse clientele in the energy sector, including governments and energy companies, by providing essential resources for energy production. Notably, Wintershall Dea acquired Wintershall Group in December 2017, consolidating its position in the energy market. In November 2023, they expanded their portfolio by acquiring a 10% stake in the Poseidon CCS project, enhancing their involvement in carbon capture and storage initiatives in the UK. This move aligns with their strategy to contribute to sustainable energy solutions while maintaining a focus on natural gas production. Additionally, their participation in various funding rounds, such as the Series B investment in Earth Science Analytics, showcases their interest in innovative technologies that can complement their core operations in the oil and gas sector.


15. VARO Energy

  • Website: varoenergy.com
  • Type: Corporate
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 2012
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: varo-energy

VARO Energy is a corporate investor based in Baar, Zug, Switzerland, founded in 2012. The company specializes in the manufacturing, storage, and distribution of both conventional and sustainable energy solutions. VARO Energy has made significant strides in the energy sector, including the acquisition of Bayernoil Raffineriegesellschaft mbH, which positions them as a notable player in the midstream energy market in north-west Europe. Additionally, their acquisition of an 80% stake in Bio Energy Coevorden BV highlights their commitment to enhancing biogas production capabilities, which aligns with the growing interest in sustainable energy sources. Their recent participation in funding rounds, such as the Seed funding for Net Zero Company, further demonstrates their engagement in innovative energy solutions. Overall, VARO Energy's diverse portfolio and strategic acquisitions indicate a commitment to various energy sectors, including natural gas, making them a relevant investor in this space.



Natural Gas Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
MercuriaGeneva, Geneva, Switzerland1001-500020047
Deutsche BankFrankfurt, Hesse, Germany10001+187032
Partners GroupBaar, Zug, Switzerland1001-5000199619
SiemensMunich, Bavaria, Germany10001+184711
GlencoreBaar, Zug, Switzerland10001+19783
Siemens Financial ServicesMunich, Bavaria, Germany1001-5000199715
OmvVienna, Vienna, Austria10001+19563
RweEssen, North Rhine-Westphalia, Germany10001+18983
BasfLudwigshafen, Rhineland-Palatinate, Germany10001+18651
Verve VenturesZurich, Zurich, Switzerland11-50201025
SgsGeneva, Geneva, Switzerland10001+18785
UVC PartnersGarching, Bavaria, Germany11-50201115
Deutsche Beteiligungs AGFrankfurt, Hesse, Germany51-20019652
Wintershall DeaKassel, Hesse, Germany1001-500018940
VARO EnergyBaar, Zug, Switzerland1001-500020121


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