Russia is expected to be the major contributor to the growth of the underground working gas storage capacity in the Former Soviet Union (FSU) between 2018 and 2022, accounting for around 92% of the total region’s growth, according to GlobalData, a data and analytics company.
The company’s report, ’Underground Gas Storage Industry Outlook in Former Soviet Union to 2022 – Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Storage Sites’ reveals that the FSU is expected to have 13 planned underground gas storage sites with a total working gas capacity of 956 billion ft3 by 2022. The region’s share in the global planned working gas capacity will be 33% in 2022.
Russia is expected to add around 877 billion ft3 of underground gas storage capacity during the forecast period from nine planned and announced underground gas storage sites. CAPEX for these sites totals US$2.4 billion over the next four years.
Soorya Tejomoortula, Oil & Gas Analyst at GlobalData, comments: “Gazprom is developing nine upcoming underground gas storage sites in Russia to ensure uninterrupted gas supply during peak winter season, as well as to ensure reliable supply of gas during repair and maintenance of gas pipelines.”
GlobalData identifies Kazakhstan as the second largest country in terms of underground gas storage capacity additions in the region. The country is expected to add about 49 billion ft3 of underground gas storage capacity by 2022. The country plans to spend around US$345 million on an upcoming site, during the outlook period.
In terms of storage capacity, among the upcoming underground gas storage sites, Bednodemyanovskoye II, Stepnovskoe II and Kanchurinsko-Musinsky Complex II sites in Russia will lead with 245 billion ft3, 199 billion ft3 and 167 billion ft3, respectively, during the forecast period.
In terms of new build CAPEX spending during the forecast period, Bednodemyanovskoye II in Russia will lead with US$604 million. Kanchurinsko-Musinsky Complex II site in Russia and Bazoi II site in Kazakhstan will follow with US$411 million and US$345 million, respectively.
Read the article online at: https://www.tanksterminals.com/storage-tanks/10012019/russia-to-drive-underground-gas-storage-growth-in-fsu-says-globaldata/