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 per cent of the working gas capacity growth in the region, according to GlobalData.
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 newbuild underground gas storage sites, with a total working capacity of 780.4bn cubic feet by 2023.
Arpan Roychowdhury, oil and gas analyst at GlobalData, commented: “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.”
