18 Apr 2019
Posted in Energy
Russia will contribute 91% of Former Soviet Union’s new-build underground gas storage capacity growth by 2023
Russia will drive growth in Former Soviet Union’s (FSU’s) planned and announced underground gas storage industry between 2019 and 2023, contributing around 91% of the working gas capacity growth in the region, according to GlobalData, a leading data and analytics company.
The company’s report: ‘Underground Gas Storage Industry Outlook in Former Soviet Union to 2023 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Storage Sites’ reveals that Russia’s underground gas storage sector is expected to add eight new-build underground gas storage sites, with a total working capacity of 780.4 billion cubic feet (bcf) by 2023.
Arpan Roychowdhury, Oil & Gas Analyst at GlobalData, comments: “Russia is planning to further expand its underground gas storage capacity, especially near the pipelines that transport natural gas, in order to ensure interrupted supply of gas to its European customers in periods of high demand. The storage also helps the country to ensure uninterrupted supply of gas whenever there is maintenance or repairs to the natural gas transmission pipelines network.”
GlobalData identifies Kazakhstan as the second highest in FSU in terms of new-build underground gas storage capacity. The country is expected to add 49 bcf of working gas capacity by 2023 from the announced Bazoi II storage site during the outlook period.
Belarus and Georgia account for the remaining capacity growth in the FSU. Mozyrskoye II in Belarus and Samgori South Dome in Georgia are expected to come online with 19 bcf and 10 bcf of working gas capacities, respectively, during the outlook period.