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Monday, December 08, 2008

Taqa and Gazprom go Dutch

5 December 2008 - Upstream OnLine - Abu Dhabi National Energy Company (Taqa) and Russian gas giant Gazprom have agreed to team up on a gas storage development in the Netherlands. The pair have signed a memorandum of understanding to work on the Bergermeer gas storage project, which will be Europe's largest such facility. Construction will start in the second quarter of next year, Taqa said. As well as joining Bergermeer as a partner, Gazprom is set to provide cushion gas for the facility, as well as help with technical aspects of the project. Operator Taqa added it is finalising the technical design, permitting and planning processes for the conversion of the depleted Bergermeer reservoir and hoped to bring the facility into commercial ioperation on the second quarter of 2013. Gazprom and Taqa hope to finalise technical and contractual talks soon and aim to reach a final investment decision by the end of the first quarter of next year. Taqa is continuing talks with other potential partners and cushion gas suppliers, it added.

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