01 July 2008
E.ON Földgáz Storage Zrt., Hungary's underground gas storage facility operator, held the first ever storage capacity auction today. Three companies participated in the auction and some 30 million cubic metres of working gas capacity was on offer. The auction was held under the supervision of the Hungarian Energy Office and participants were able to place their bids for the 10 lots in several rounds.
Currently E.ON Földgáz Storage sells its storage capacity to Hungarian gas distribution companies and open market traders normally prior to the beginning of the gas year through a process of annual capacity booking. Today's auction was prompted by the creation of additional capacities through technical developments during the course of the gas year. "This is the first time that the needs of our clients exceeded our available capacities and subsequently we auctioned this 30 million cubic metre additional capacity. We believe that such an auction increases the transparency of the storage market", Klaus G. Hammer, Chairman of the Board of E.ON Földgáz Storage, said.
Klaus Hammer emphasised that the increased interest in storage capacities demonstrates the growing competition on the Hungarian gas market as well as the need for the extension of Hungarian gas storage to meet customer needs. E.ON Földgáz extended its storage capacities by 200 million cubic metres last year and started a further extension of 600 million immediately thereafter. The latter development will be ready by autumn 2009. E.ON's Hungarian storage capacities will increase from 3.4 bcm in 2006 to 4.3 bcm. The company has now more than 10 clients and plans to extend its client base in neighbouring countries, thus playing a regional role on the storage market.
Further information:
KUTAS István
Head of Communications
Tel.: + 36 20 476 8916
E.ON Földgáz Storage Zrt.
H-1051 Budapest, Roosevelt tér 7-8.