Monday 1 April 2019

Italy to lead new-build underground gas storage capacity up to 2023

Italy is expected to build 14 new-build underground gas storage sites, which will see it contribute 35% of Europe’s capacity of this kind by 2023.

That's the prediction from data and analytics company GlobalData, which suggests the nation will install around 249 billion cubic feet (bcf) of underground gas storage capacity before this date

Europe as a whole is expected to have a total working gas capacity of 716bcf in 2023, thanks to 49 planned and announced underground gas storage sites to be built during the forecast period.

The UK will add around 127bcf of this, making it the second largest contributor to new underground gas storage on the continent - this will be spread across nine new sites between over the next four years.

Germany will add 101 bcf from seven new underground gas storage sites, putting it in third place.

The largest planned storage site will be the Cornegliano facility in Italy with 83bcf, followed by the Golianovo site in Slovakia and the Gateway site in the UK with 53bcf pf capacity each.

Ashwin Gupta, Oil & Gas Analyst at GlobalData, said: "Italy is further adding new underground gas storage sites to ensure uninterrupted gas supply during peak winter season.

"The country is also planning to reduce carbon emissions by constructing more natural gas power plants, which will necessitate construction of new underground storage sites."