RWE has started sales process for Czech gas storage business

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The logo of the German power supplier RWE is pictured at the RWE headquarters in Essen, Germany, November 15, 2021. REUTERS/Thilo Schmuelgen/File Photo

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FRANKFURT, May 17 (Reuters) - RWE (RWEG.DE), Germany's largest power producer, has started a process to divest its gas storage business in the Czech Republic, it said on Tuesday, adding it had already received encouraging feedback from potential European buyers.

"The importance and attractiveness of the business is undisputed, especially in the current situation," a spokesperson for the company said, adding that the sales process was well advanced.

RWE Gas Storage CZ operates six underground gas storages with a total volume of 2.7 billion cubic metres, enough to supply the Czech Republic for two months during winter time, according to the group's website.

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Reporting by Christoph Steitz; Editing by Madeline Chambers and Edmund Blair

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