Company History

UGS developed originally out of an oil and natural gas exploration company and can look back on more than 50 years of successful company history in this connection.

  • 1962
    Founding of the nationally-owned company (Volkseigener Betrieb), VEB Erdöl- und Erdgaserkundung Mittenwalde. Its main activities being in the exploration and production of oil and natural gas.

  • 1967
    Changing into the VEB Erdöl-Erdgas Mittenwalde

  • 1973
    Changing of VEB Erdöl-Erdgas Mittenwalde into VEB Untergrundspeicher Mittenwalde. Start of new activities in the underground storage of gas, oils and petrochemical products. Continuation of oil and natural gas production.

  • 1984
    The VEB UGS Mittenwalde became the parent company of the newly-founded gas plant collective. Construction of natural gas pipelines and infrastructure facilities in Ukraine and Russia (the mountainous Ural region).

  • 1990
    Outsourcing of the private Untergrundspeicher- und Geotechnologie-Systeme GmbH (UGS) company from the state-owned VEB Untergrundspeicher Mittenwalde. Concentration on the core business in underground storage.

  • 1991
    Conclusion of the privatisation

  • 1999
    The French Géostock S. A. company acquires 60 % of the shares in UGS GmbH.

  • 1999
    The German VNG Gasspeicher company acquires 40 % of the shares in UGS GmbH.

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