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Italy to contribute 35% of Europe’s newbuild underground gas storage capacity in 2023
Italy is expected to add around 249bn cf of underground gas storage capacity between 2019 and 2023, from 14 planned and announced underground gas storage sites, according to GlobalData.
The company forecasts that Europe will add 49 planned and announced underground gas storage sites during the forecast period, with a total working gas capacity of 716bn cf in 2023.
Ashwin Gupta, Oil & Gas Analyst at GlobalData, comments: ‘Italy is further adding new underground gas storage sites to ensure uninterrupted gas supply during the peak winter season. The country is also planning to reduce carbon emissions by constructing more natural gas power plants, which will necessitate construction of new underground storage sites’
The UK is expected to add around 127bn cf by 2023, making it the second largest in Europe in terms of newbuild underground gas storage capacity. The country plans to add nine underground gas storage sites in the study period.
Germany stands third largest in the region, with a planned underground gas storage capacity addition of 101bn cf, from seven underground gas storage sites.
In terms of storage capacity, Cornegliano in Italy will lead among the upcoming underground gas storage sites, with 83bn cf in 2023. The Golianovo site in Slovakia and Gateway in the UK follow, with 53bn cf each.
Figure 1: Planned and announced underground gas storage capacity additions, in bn cf, in Europe, 2019–2023
Source: GlobalData
