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GAZPROM

May 24, 2007

Gazprom, RAG and WINGAS inaugurate biggest underground gas storage in Austria

Today Salzburg (Upper Austria) has hosted a solemn ceremony dedicated to the completion of the first leg of the Haidach underground gas storage.

The UGS was constructed through the highest safety & environmental protection standards in a record short time – 2 years. The gas volume of the first UGS leg will be equal to 1.2 bcm of gas, daily productivity will be at 12 mcm.

The second UGS phase is planned to be constructed at the end of 2008 and will be completed in April 2011. RAG will be responsible for construction and technical operating.

The project will be funded by Gazprom, RAG and WINGAS with some EUR 260 mln. The Haidach UGS facility will have 2.4 bcm in maximum throughput, which is roughly 25 per cent of the overall annual gas consumption in Austria. The Haidach UGS facility is the largest in Austria and the second-largest in Central Europe

“The world’s gas demand is rapidly growing. The UGS facility will be backbone for our future gas supply safety. Along with the supply guarantee the Haidach UGS has also important for Austrian economy and will coordinated the regional pricing,” said Eric Steenken, CEO of RAG.

“Gas supply in Haidach is an important contribution towards our UGS market strategy development. The largest Western European gas storages in Rehden, Haidach and Saltfleetby as well as the UGS project in Jemgum enable to strengthen our market positions and as a result, becoming one of the leading European UGS market players,” said Rainer Seele, Chairman of WINGAS Board of Directors.

“Gazprom consistently implements the strategy to expand UGS network in European countries obtaining a specific topicality in terms of European gas market liberalization. New gas storage definitely will increase reliability and flexibility of Russian gas supply to European consumers and, thus, make a substantial contribution to stronger energy security of Europe,” quoted Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee.

Reference:

In October 2003 Gazprom export, RAG and WINGAS signed a Protocol of intent to construct and operate the Haidach field as underground gas storage. In January 2005 the construction works at the UGS were started.

The Haidach field was opened by RAG in 1997 in the depth of 1600 m. Starting from 1998 some 2.9 bcm of natural gas were supplied to Austrian market from this field. The usage of depleted natural gas field as an underground gas storage is the most reliable and efficient method for gas storage.

RAG is an Austria-based company dealing with hydrocarbon exploration, production and marketing. The company annually produces some 800 mcm of gas and 100 thousand tons of crude oil. In recent years the company has been involved in the UGS facility operation within a 20-year period and is holding 7,100 cu m concession licenses in Austria and Bavaria.

A joint venture of Gazprom (35 per cent) and Wintershall AG (65 per cent), since 1990 WINGAS has been supplying gas to power plants, prominent industrial consumers and regional gas suppliers in Germany and Europe. WINGAS possesses an over 2,000-km-long Germany-based gas transmission network so far funded by Wintershall AG and Gazprom with some EUR 3 bln. Said pipeline network links gigantic gas reserves of Siberia with expanding markets in West Europe, enabling WINGAS to enter the European spot markets under development. WINGAS owns the largest West European Rehden UGS facility with over 4 bcm (1/5 of the overall German gas storage capacities) in throughput.

 

 

 

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