Blog - Page 9

UNDERGROUND GAS STORAGE IN THE WORLD – 2022 STATUS

Posted in CEDIGAZ Insights, Underground Gas Storage on

Key UGS metrics in the world remained virtually unchanged in 2021

Seven new storage facilities were commissioned, six of which were in China and one in Sharjah. These new capacities were largely offset by declines in the main storage markets. Overall, the global number of storage facilities, working gas capacity and peak withdrawal rates remained virtually unchanged year-on-year.

… but interest in UGS is growing, as evidenced by a growing pipeline of new projects and expansions totalling 133 bcm of working capacity

While the UGS market remains highly concentrated, with 5 countries (United States, Russia, Ukraine, Canada and Germany) accounting for almost 70% of global storage capacities, there is a clear shift of storage activity towards new, fast growing gas markets, China and the Middle East notably.

The Netherlands to become the foremost North-Western European hydrogen hub

Posted in CEDIGAZ Insights, Hydrogen on

The International Association CEDIGAZ has just released its National Hydrogen Report: “The Netherlands to become the foremost North-Western European hydrogen hub”, which provides detailed information on the Dutch hydrogen policy as well as market and project developments on both the demand and supply sides. It emphasizes that the Netherlands is now among European frontrunners in the new hydrogen economy and is well positioned to become a European gateway for global clean hydrogen.

Quarterly report – Q3 2022 – International natural gas prices

Posted in International Gas Prices, Natural Gas Prices on

In the third quarter of 2022, European and Asian spot gas prices reached new record highs but remained highly volatile. Driven by the Russian gas crisis and threats of pipeline supply cut, European gas prices peaked at over €300/MWh at end-August, contributing strongly to the European inflation. However, three bearish factors have moderated European prices over the last few weeks: the good replenishment of stocks, the very strong growth in LNG imports at the expense of China and the sharp reduction in gas consumption (plants’ closures and industrial demand destruction, energy substitution and energy savings) in response to the surge in gas prices. The massive inflow of LNG and the destruction of demand in Europe have kept storage levels high and these two factors will be crucial to get through the next winter without a deficit.