Katharina UGS facility in Germany to be expanded by 50 per cent in 2014
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Dr. Karsten Heuchert, Chairman of the Verbundnetz Gas Executive Board.
The parties addressed the cooperation between the two companies placing an emphasis on the interaction in the area of underground gas storage. It was highlighted that the construction of the Katharina underground gas storage (UGS) facility was progressing according to schedule. It is expected that the third salt cavern will be brought onstream in the fourth quarter of 2014. In this way, the UGS working capacity will rise 50 per cent (up to 170 million cubic meters).
Background
Erdgasspeicher Peissen, a joint venture of Gazprom Export and Verbundnetz Gas is responsible for the construction of the Katharina UGS facility, which is anticipated to strengthen the reliability of natural gas supply to Western Europe, including via the Nord Stream gas pipeline.
By now, two gas tanks with a total working capacity of 113 million cubic meters are operational at the UGS facility. A total of six tanks are scheduled to be constructed by 2017 and in this way the Katharina UGS facility will reach its maximum daily deliverability of 26 million cubic meters of gas. In the future, Katharina's total working capacity will exceed 600 million cubic meters upon completion of additional tanks.
Verbundnetz Gas AG (VNG AG) is a supplier of gas to Germany's eastern federal lands and Berlin. VNG business activities involve natural gas import, supplies to consumers as well as underground gas storage. The company's shareholding structure is as follows: EWE – 47.9 per cent, Wintershall Holding – 15.79 per cent plus one share, VNG Verwaltungs und Beteiligungsgesellschaft – 25.79 per cent less one share, Gazprom – 10.52 per cent.
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