Gazprom to Double Natural Gas Reserves in Europe

Published: February 10, 2012; 17:35 · (FriedlNews)

The Russian natural gas supplier Gazprom intends to improve supply security in Europe. Gas reserves in Austria should be extended too.

Gazprom to Double Natural Gas Reserves in Europe / Picture: © Flickr

In order to improve supply security of natural gas in Europe, the Russian corporation Gazprom wants to double its natural gas reserves in Europe. The capacity should rise to 5.0bn cube meters, Gazprom´s vice-chairman Alexander Medwedew underlined.

Gazprom supplies one quarter of the European natural gas consumption. A few days ago, European energy companies asked Gazprom to increase gas deliveries. However, according to Gazprom, the maximum volume of natural gas, which totals 38m cube meters per day, has already been reached. As a result, further inquiries cannot be entirely satisfied, Gazprom said.

In Austria, the Russian gas supplier operates a gas store in Haidach, Salzburg. This store is the second-largest of Europe and has a capacity of 2.4bn cube meters. Gazprom´s share in Haidach is 33,33%, besides EVN´s subsidiary RAG and the German gas trader Wingas, which own a 33.33% stake each. Wingas is itself a 50% subsidiary of Gazprom.

Last week, Russian gas supply was down by 30%, OMV said. Meanwhile, the normal level is not reached yet. Nevertheless, gas deliveries are increasing again.