Press release 11 June 2021

Four storage marketing processes successfully completed

Storengy Deutschland GmbH draws a positive balance in view of the four past storage marketing processes.

Four storage marketing processes successfully completed

Berlin, 11 June 2021. Storengy Deutschland GmbH draws a positive balance in view of the four past storage marketing processes. In the period from April to June, the storage operator successfully marketed four storage products with a total volume of approximately 2.6 TWh: the Uelsen 21/23 Product (100 GWh), the Lesum 21/23 Product (450 GWh), the Virtual Gas-In-Store Product 21/22 (80 GWh) and the Uelsen 3Y Product (2 TWh).

The marketed working gas volume of around 2.6 TWh could have been sold several times over. 25 companies participated in the marketing process. Gregor Wenzel, Head of Division Sales and Commercial Operations, is very satisfied with the high participation and the results achieved:

“Despite the challenging market environment, it becomes clear that gas storage plays a crucial role in the security of energy supply. We see this, among other things, in the numerous participants in the marketing process as well as in the high level of interest for long-term storage capacities, such as we offered in the Uelsen 3Y Product."

For the storage year 2021, 100 GWh of free capacity remain in the Harsefeld natural gas storage facility, which will be marketed until mid-July.

Overview of the capacity marketing

For the Uelsen 21/23 Product one bundle with a firm working gas volume of 100 GWh was offered for a contract duration from 1 June 2021 to 1 April 2023. The bundle has a firm injection rate of 35 MWh/h respectively and a firm withdrawal rate of 47 MWh/h. A total of four bidders participated in the tender offering their bids for the whole storage capacity.

For the Lesum 21/23 Product a total of nine bundles with firm working gas volume of 450 MWh were offered for a contract duration from 1 June 2021 to 1 April 2023. Each bundle has a firm working gas volume of around 50 GWh, a firm injection rate of 25 MWh/h respectively and a firm withdrawal rate of 75 MWh/h. A total of nine bidders participated in the tender and one bidder alone was awarded the sale. The capacity offered could have been sold nine times over. Despite the very low spreads for the 2021/22 storage year, a good price was achieved. The closely spaced bids were in the upper range.

For the Virtual Gas-In-Store Product 21/22 one bundle with a firm working gas volume of 80 GWh was offered for a contract duration from 1 October 2021 to 1 October 2022 at the virtual trading point Trading Hub Europe (THE). The bundle has a firm injection rate of 37 MWh/h respectively and a firm withdrawal rate of 56 MWh/h. The capacity offered could have been sold three times over. A good premium was given on the high winter 21-summer 22 spread.

For the Uelsen 3Y Product a total of eight bundles with a firm working gas volume of 2 TWh were offered for a contract duration from 1 April 2022 to 1 April 2025. 2 TWh represent approximately 20 per cent of the storage capacity in Uelsen. Each bundle has a firm working gas volume of around 250 GWh, a firm injection rate of 87 MWh/h respectively and a firm withdrawal rate of 110 MWh/h. A total of nine bidders participated in the tender and two bidders were awarded the sale. The capacity offered could have been sold six times over. For the first time, marketing was offered for a long-term product for a period of three years, at which a very satisfactory price was achieved given the current market situation.

Further information on products, services and marketing can be found on the website underNatural gas storage”.

Do you want to know more about our products? Please feel free to contact our Sales Team: sales@storengy.de

Press Release