UGS emerged from a petroleum and natural gas exploration company and can look back on more than 50 years of success.
1962
Foundation of VEB (state-owned enterprise) Erdöl- und Erdgaserkundung Mittenwalde. Main activities in the exploration and production of petroleum and natural gas.
1967
Transformation into VEB Erdöl-Erdgas Mittenwalde
1973
Transformation of VEB Erdöl-Erdgas Mittenwalde into VEB Untergrundspeicher Mittenwalde. Initiation of new activities in the underground storage of gas, oil, and petrochemical products. Continuation of petroleum and natural gas extraction.
1984
VEB UGS Mittenwalde becomes the parent company of the newly founded Kombinat Gasanlagen. Construction of natural gas pipelines and infrastructure facilities in Ukraine and Russia (Urals).
1990
economic company Untergrundspeicher- und Geotechnologie-Systeme GmbH (UGS) from the state-owned enterprise VEB Untergrundspeicher Mittenwalde. Concentration on the core business of underground storage.
1991
Completion of the privatisation
1999
The French company Géostock S. A. acquires 60 % of the shares in UGS GmbH.
1999
The German company VNG Gasspeicher acquires 40 % of the shares in UGS GmbH.
