Ruhr Gas Corporation - 6.5% 1928 dated Uncancelled German Gold Bond with Pass-co Authentication (Uncanceled)
Inv# FB5180 Bond
Ruhrgas Aktiengesellschaft also known as Ruhr Gas Corporation. $1,000 6 1/2% Uncanceled Gold Bond with traditional amount of 25 coupons attached with Pass-co Authentication. Printed by Security Bank Note Company.
Ruhrgas AG, formerly known as Aktiengesellschaft für Kohleverwertung and later as E.ON Ruhrgas, was the largest natural gas transportation and trading company based in Essen, Germany. Established in 1926, the company’s journey came to an end on May 2, 2013, when it merged with E.ON Global Commodities SE, now known as Uniper Global Commodities SE.
Ruhrgas AG was founded in 1926 as a natural gas transportation company by Vereinigte Stahlwerke AG and Zeche Mathias Stinnes, initially named Aktiengesellschaft für Kohleverwertung. The company’s primary responsibility was to distribute coal gas produced in the coking plants of Vereinigte Stahlwerke AG and Zeche Mathias Stinnes.
In 1928, Aktiengesellschaft für Kohleverwertung acquired a significant 300-kilometer-long (190-mile) pipeline network from RWE AG, leading to a renaming of the company to Ruhrgas AG. By the end of the decade, Ruhrgas AG had secured gas supply contracts with major cities such as Cologne, Düsseldorf, Hanover, and Saarbrücken.
By 1930, Ruhrgas AG had achieved remarkable success, with total sales of coal gas reaching 0.3 billion cubic meters (11 billion cubic feet) and its pipeline network expanding to 857 kilometers (533 miles). By 1936, the company’s pipeline network had grown to 1,128 kilometers (701 miles), and it had expanded its gas delivery capabilities to 2 billion cubic meters (71 billion cubic feet) from 32 coking plants. Notably, Ruhrgas AG supplied gas to various industries, including Adam Opel works.
In 1938, natural gas was discovered near Bad Bentheim. In 1939, at the request of the Reich Ministry of Economics, Ruhrgas was tasked with integrating the gas deposit into the existing pipeline network. However, due to World War II, it wasn’t until 1944 that a 75-kilometer-long pipeline from Bad Bentheim to the chemical works in Hüls was completed. During the war, much of the gas infrastructure was destroyed, but by the end of 1945, the pipeline network had been restored to 90%.
In the 1940s, Ruhrgas collaborated with Lurgi Gesellschaft für Wärmetechnik G.m.b.H. to develop the Lurgi–Ruhrgas process, a method for low-temperature liquefaction of lignite (brown coal) and oil shale. In 1948, Ruhrgas, in partnership with Thyssengas, began coal gas exports to the Netherlands. By 1965, the Ruhrgas pipeline network had expanded to 3,402 kilometers, and the total sales of gas reached 3.3 billion cubic meters (120 billion cubic feet), of which 10% was natural gas.
In 1970, Ruhrgas made history by signing the first contract to import natural gas from the Soviet Union, solidifying its position as the largest natural gas import and distribution company in Germany. Building on this success, in 1971, Ruhrgas embarked on a new venture by supplying natural gas to Switzerland through the Trans Europa Naturgas Pipeline, collaborating with Snam and Swissgas.
In 1973, Ruhrgas further expanded its operations by signing a contract to purchase natural gas from the North Sea Ekofisk field, utilizing the Norpipe pipeline for transportation. Deliveries from Norway commenced in 1977. Additionally, in 1973, Ruhrgas initiated the purchase of Soviet gas through East Germany to supply West Berlin.
In 1975, Ruhrgas formed a strategic partnership with Gaz de France, establishing the Mittel-Europäische-Gasleitungsgesellschaft (MEGAL) to construct the MEGAL pipeline. This pipeline was designed to transport Russian natural gas to France and southern Germany, and it was commissioned in 1980.
In 1982, Ruhrgas further solidified its international presence by signing a contract with Soyuzgasexport, which supported the construction of the Urengoy–Pomary–Uzhgorod pipeline. At the same time, Ruhrgas joined a consortium to import natural gas from the Statfjord field. Deliveries commenced after the commissioning of the Statpipe pipeline in 1985.
By 1998, Ruhrgas had established an extensive pipeline network spanning 10,361 kilometers (6,438 miles), comprising 26 compressor stations and 12 underground storage facilities. The company’s natural gas production was remarkable, with a total of 50.9 billion cubic meters (1.80 trillion cubic feet) sold. In 1999, Ruhrgas demonstrated its commitment to cultural heritage by donating a substantial amount of US$3.5 million towards the restoration of the renowned Amber Room.
Ruhrgas, an energy company, was acquired by E.ON in March 2003. On July 1, 2004, the company underwent a name change and became E.ON Ruhrgas. At that time, it became the largest foreign shareholder in the Russian gas company Gazprom, holding 6.5% of its shares. However, in October 2009, Gazprom acquired these shares back as part of an asset-swap deal between E.ON and Gazprom. As a result of this deal, E.ON Ruhrgas acquired a 25% stake in Severneftegazprom, an operator of the Yuzhno-Russkoye field.
In June 2005, E.ON Ruhrgas expanded its operations by acquiring 51% of the Romanian gas utility DistriGaz Nord and renaming it E.ON Gaz România. Additionally, in September 2005, E.ON Ruhrgas signed an agreement to participate in the Nord Stream project, which became operational in 2011.
By 2008, E.ON Ruhrgas had a vast network of pipelines, spanning 11,552 kilometers. In July 2010, E.ON Ruhrgas further expanded its presence by acquiring 15% of the shares in the Trans Adriatic Pipeline project. On September 1, 2010, in line with the European Union Third Energy Package, E.ON Ruhrgas transferred its gas transportation and gas storage operations to E.ON Gastransport, which was subsequently renamed Open Grid Europe. On May 2, 2013, E.ON Ruhrgas underwent a merger with E.ON Global Commodities SE, which is now part of Uniper.
Despite the merger, the name Ruhrgas continues to be used by Uniper Ruhrgas International GmbH, a subsidiary of Uniper. This subsidiary was established in 1994 as E.ON Ruhrgas International GmbH, following E.ON’s takeover of Ruhrgas based on its international activities.
Before E.ON acquired Ruhrgas, its shareholders were:
- Bergemann GmbH (59.76%): A holding company owned by Gelsenberg AG (Deutsche BP Holding AG), RAG BeteiligungsGmbH (RAG AG), Mannesmann AG, ThyssenKrupp AG, RWE DEA AG, and VEBA AG.
- Brigitta Erdgas und Erdöl GmbH (25%): A joint venture owned by Esso AG and Deutsche Shell AG.
- Schubert KG u. a. (15%): A holding company owned by Schubert Beteiligungs GmbH (a joint venture of Mobil Oil AG and Preussag AG), Elwerath Erdgas und Erdöl GmbH (a joint venture of ESSO AG and Deutsche Shell AG), and Gelsenberg AG (Deutsche BP Holding AG).
- Minority shareholders (0.24%).
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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