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Gazprom to boost underground gas storage capacity to 5% of exports

July 11, 2014, 16:51 UTC+3 MOSCOW
Gazprom has access to active capacity of underground storages located in Austria, Germany, Serbia, and the UK
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© ITAR-TASS/Alexander Ryumin

MOSCOW, July 11. /ITAR-TASS/. Russian gas giant Gazprom plans to raise active capacity of underground storages to 5% of its annual gas exports in the long term, amid measures to develop its storages in Europe to ensure flawless supplies, the company said in a statement Friday, following a meeting of the board of directors.

The current capacity of Gazprom’s underground storages in Europe amounts to 5 billion cubic meters of gas. Gazprom has access to active capacity of underground storages located in Austria, Germany, Serbia, and the UK.

In 2013, the company exported 161.48 billion cubic meters of gas.

The company said separately that it spend 6.8 billion roubles to finance research and development in 2013, which allowed cutting fuel and power consumption for own needs by 2.52% and greenhouse gas emissions by 4.25%.

 

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