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.
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.
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.
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).
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.