Storengy, a subsidiary of Engie, said on Wednesday it was “optimistic” for gas storage supply in Europe and particularly France for the winter of 2023-2024, with planned storage levels above usual standards by the end of next winter.
“For this winter, we are optimistic because our capacities are at 100% and we have not really started racking yet. [utilisation du gaz, ndlr] supported, so we believe that we will be able to end the year at fairly correct storage levels, around 30, 35%”, explained Pierre Chambon, general director of Storengy France, during a press conference.
Sharp drop in industrial consumption
The stakes are high, given the supply difficulties posed by the war in Ukraine. Storengy’s gas storage facilities and its competitor Teréga account for 25% of consumption in France, with the remaining 75% being transported in continuous flows, either by pipeline or by ship. Storengy points out, in addition to a drop in household consumption, “since the summer, a very strong drop in industrial gas consumption, around 30% in France and Germany”, particularly due to the price of gas.
However, the supply for next winter is facing a difficulty, with a marketing campaign for storage capacities that “starts off a bit difficult”, according to Estibaliz González-Ferrer, commercial and strategy director of Storengy France. This is explained by very high and volatile gas prices, and above all by the “spreads” or negative gas price differences between summer and winter, which do not allow gas storage, traditionally purchased at a low price, to be valued in summer. . to be resold at a higher price in the winter, at the peak of demand.
“We have a lot of cards at our disposal”
“But we are just getting started and we have many cards at our disposal to be able to adapt and sell these capabilities just when customers need them,” said Estibaliz González-Ferrer. He is counting in particular on the “flexibilities” recently granted by the regulator in terms of marketing, to “allow him to be much more reactive.”
In order to consolidate its storage capacities for the coming and subsequent winters, Storengy is preparing at the same time to put its site in Trois-Fontaines-l’Abbaye (Marne) back into service, “in order to extract the gas still present in this old storage, that is, 8 TWh” for fifteen years.
The Engie subsidiary is also awaiting the green light from regulatory authorities to bring additional storage capacity online in existing salt caverns, at Etrez (Ain), north of Bourg-en-Bresse. They could represent 3-6% additional capacity, i.e. 3-6 TwH, part of which from winter 2023/24. Storengy also wants to make them “hydrogen compatible” to meet its target of 1 TWh of hydrogen storage in Europe by 2030, half of which in France.
Source: BFM TV
