Hungary's E.ON gas storage fully booked for the next winter

http://www.portfolio.hu/en/cikkek.td...

Monday, 27, April 2009 03:52:00 PM

E.ON Földgáz Storage Zrt. has announced on Monday that it has sold all its storage capacity for the winter of 2009/2010. This means that the 3.7 bcm mobile capacity and the 51.5 mcm withdrawal capacity of the five storage sites is fully booked. The capacity booking procedure took place in three rounds and 12 customers have booked mobile and withdrawal capacity for the new gas year.

“Market liberalisation is clearly on its way. This year, we have seen a huge difference in our customers' attitude towards the use and the booking of storage capacity. First, due to their different commercial interests, they start injection and finish withdrawal at completely different times," said Zoltán Jászberényi, General Manager of E.ON Földgáz Storage.

“This means that as opposed to the past practice, at certain storage sites we are still withdrawing gas, at others we are already injecting. Luckily we have the flexibility to do this. Second, due to the changing regulatory environment, certain customers booked less storage capacity than in previous years. On the other hand, some partners have booked somewhat more capacities than in previous years to provide for extra security to its customers", he added.

The Hungarian Hydrocarbon Stockpiling Association (MSZKSZ) will continue to keep 200 mcm of its strategic stock at the Zsana storage site until May 2010. This site will be extended by 600 mcm in 2009.

The HUF 30 bn investment will be completed by the end of August, and thanks to the storage site's large injection capacity, it will be completely filled up by November. The additional capacity will be sold at unregulated terms and conditions, partly to international clients.