Gaz de France and Acea have decided to set up a joint venture with Gas Plus for the conversion into a natural gas storage facility of depleted gas deposits on the San Benedetto del Tronto site, in the Marche region. The Italian Ministry of the Economic Development has allocated this site at the end of an international call for tender. Gaz de France and Acea will own 51% of the joint venture, with the remaining 49% held by Gas Plus, which will also be responsible for operating the site.
To take part in this development, Gaz de France and Acea previously entered a partnership with respectively 70% and 30% ownership.
The storage facility - whose commercial launch is planned for 2012-2013 - offers an estimated potential of approximately 500 million cu.m., which represent approximately 5% of current capacity in Italy.
This operation allows Gaz de France to establish positions in the natural gas storage sector in Italy for the first time. It also enables the Group to consolidate its presence in a strategic market where it is already the 3rd largest supplier, and the 4th largest distributor, of natural gas. Gaz de France also has plans for an offshore LNG terminal under development in the same part of the Italian Marche region.
The operation also confirms Gaz de France’s determination to increase its storage capacity in Europe. The Group currently boasts the second largest storage capacity in Europe with facilities based in France, Germany, Slovakia, Romania and the United Kingdom.
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