Taqa to develop underground gas storage facility in the Netherlands

The National reported that as Europe inevitably seeks to widen its energy options following the current gas crisis, the likely winners include renewable energy and gas storage projects. Any move in the direction could give an unexpected boost to Abu Dhabi companies that are already investing in such ventures in Europe, and provide more partnership opportunities.
In December 2008, Abu Dhabi National Energy Company, or Taqa, took the lead in an international consortium to develop the continent's biggest underground gas storage facility, agreeing to operate the Bergermeer gas hub in the Netherlands when it is completed in 2013.

Europe's attention has now been forcibly focused on disruptions to its gas supply, after a recurring contractual dispute between Russia and Ukraine erupted in the dead of winter, directly affecting nearly a score of other countries that receive Russian gas through Ukraine.
Mr Allan Virtanen, a spokesman for Taqa, the Netherlands, noted that, "gas storage plays a vital role in security of energy supply during disruptions." He added that Taqa which already operates another Dutch gas storage facility would keep its eyes open for additional opportunities in the sector.

While a final decision on building the 4.1 bn cm Bergermeer storage depot is still pending, the project now seems certain to go ahead and could even be fast-tracked. Building more gas storage is the quickest, easiest and cheapest way for Europe to increase its energy security.
It maybe mentioned that Abu Dhabi Future Energy, or MASDAR, has already committed to substantial investments in Europe's expanding renewable energy sector. In October 2008, it agreed to buy a 20 % stake in the London Array wind project, which will be the world's biggest offshore wind farm.

Analysts said that the search for more diverse gas sources and supply routes could spark renewed support for the stalled EUR 7.9 bn Nabucco pipeline project, which would bring central Asian and Middle Eastern gas to Europe via Turkey.
If built, the 3,300 km pipeline would supply about 10 % of Europe's gas. But its sponsors, led by the Austrian oil and gas company, OMV, have been unable secure enough Caspian gas to fill the pipeline, casting doubt on the project's future.