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Gazprom, TAQA To Develop Gas Storage Project In Netherlands

Published: 20-Aug-2009

OAO Gazprom (Gazprom) and Abu Dhabi National Energy Company PJSC (TAQA) have signed an agreement to jointly develop a gas storage project in the Netherlands, Reuters reported. Gazprom will provide cushion gas for injection into the depleted field in return for working capacity and a participating interest in operating the project.

TAQA said that the agreement is conditional upon a final investment decision for the project, which is likely to be finalized in coming months.

TAQA is working on the Bergermeer project with Dyas, Energie Beheer Nederland B.V and Petro-Canada The project in a depleted natural gas field to the north of Amsterdam will provide 4.1 billion cubic metres of storage.

Construction of the storage facility is expected to commence in 2010. It should enter operations by 2013.

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