Underground Gas Storage - Page 3

Underground Gas Storage in the World – Part 1: Current capacity

Posted in CEDIGAZ Insights, Underground Gas Storage on

Highlights from the latest update of Cedigaz’ Worldwide UGS Database.

No significant changes compared with 2015, except in Europe

As of end 2016, there were 672 underground gas storage (UGS) facilities[1] in operation in the world, representing a working gas capacity of 424 billion cubic meters (bcm), or 12% of 2016 world gas consumption. The number of storage facilities has decreased (680 UGS in 2015), mainly due to closure/mothballing of UGS in the United States and Europe. However, the global working capacity has slightly increased (+11 bcm) driven by expansions in the Commonwealth of Independent States (CIS), the Middle East and China. In Europe, storage capacity has continued its decline. Working gas capacity decreased by 5.8 bcm due to the closure of storage facilities in Germany, Ireland and the UK. The temporary closure of the Rough depleted field was confirmed as a permanent one in June 2017. This sharply reduces the UK storage capacity, and especially its seasonal storage capacity.

€100 billion to €170 billion Investment Needed in Underground Gas Storage to 2035

Posted in Underground Gas Storage on

CEDIGAZ, has released today the sixth edition of its reference report on Underground Gas Storage. This updated edition entitled “The Underground Gas Storage & LNG Storage Market in the World 2015-2035” includes for the first time the coverage of LNG storage activity worldwide. The report includes detailed analyses of the latest developments and trends in the storage industry, CEDIGAZ’s Outlook to 2035 at regional and global levels, and extensive country analyses with complete datasets including current, under construction and planned UGS and LNG facilities for more 49 countries.

KEY FINDINGS INCLUDE:

€100 billion to €170 billion Investment Needed in Underground Gas Storage to 2035

Estimated growth in working gas capacity to 2035Global UGS capacity is expected to increase from 413 bcm in 2015 to between 547 and 640 bcm in 2035. This wide range reflects the uncertainties surrounding the evolution of global gas markets plus the uncertainties specific to the gas storage business, such as challenging geology or the competition from other sources of flexibility. New storage markets, Asia-Oceania, the Middle East, and potentially Central and South America are expected to drive the growth. Conversely, the growth in working capacity should be limited in mature markets, and could even be negative in the EU.

Underground Gas Storage Capacities grew 5% in 2013

Posted in Press release, Underground Gas Storage on

CEDIGAZ, the International Center for Natural Gas Information, has released today the updated version of its Worlwide Underground Gas Storage (UGS) database. According to Cedigaz, worldwide working gas capacity stood at 399 bcm at January 1, 2014, a 5% growth over the previous year. Salt caverns represented 8% of working gas capacities worldwide and 26% of daily withdrawal capacity, they were the fastest growing segment of the market, with a 10% growth rate in 2013 and a 33% share of the planned projects backlog in terms of capacity. In difficult times for storage operators, European capacities grew by almost 3% (+13% for salt caverns).