BMP Greengas purchased biomethane from suppliers in order to then sell it on to municipal utilities and garden centers.
(Photo: imago images/Countrypixel)
Dusseldorf Creditors in shock and almost three quarters of a billion euros in outstanding claims: the insolvency of the biomethane trader BMP Greengas could end in a financial disaster for many public utilities and private energy suppliers.
A total of 235 creditors have registered around 720 million euros in claims with the insolvency administrator of BMP Greengas. The company, based in Munich, purchased biomethane from suppliers in order to then sell it on to municipal utilities and garden centers. With a “trading volume” of over four terawatt hours, BMP Greengas boasted itself as the “leading marketer for biomethane and the expert in green gases” in Germany.
The times when the business flourished are over. On August 1st, BMP Greengas filed for bankruptcy at the Karlsruhe District Court. The EnBW subsidiary probably owes most of the money to the Garmisch-Partenkirchen municipal utility company. The municipal utilities are demanding almost 70 million euros from BMP Greengas from a supply contract for biomethane.
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