πŸ“β€œIn order to maintain #securityofsupply, a sufficient level of #gasstorage capacity must be maintained in a coordinated manner”.

That’s what @schmoltzer, GIE Value of Storage WG chair, highlighted at the #IPS2023 in Milan.

Read πŸ‘‰ https://lnkd.in/eCFpKUfx

@ThTrouve @FrancegazFR Presenting on behalf of @GIEBrussels and our French members πŸ‡«πŸ‡·
@GRTgaz - @Teregacontact
@Storengy - @Elengy
@DunkerqueLNG

As natural gas demand decreased by 8% y to y in the OECD, #TimGould put the attention to the evolution of Chinese gas demand πŸ“ˆ and its impact on #LNG markets and wholesale #prices, especially as Europe is going to be more and more exposed to spot prices.

@wavestoneFR @Energy4Europe @MWorsdorfer @csikow @AdinaRevol Last year the EU understood the importance and value of the underground gas #storage while 5 years ago the assets were seen by many as stranded assets, said @TorbenBrabo.
Storage have never been fulfill at this level so early.

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Underground Sun Conversion

By RAG Austria AG (Austria)

Over 1,000 metres below the ground – where natural gas was formed millions of years ago – renewable natural gas production will be investigated for the first time using a microbiological, environmentally friendly process. The aim of the RAG-initiated project is to carry out research on producing large quantities of renewable gas, using a carbon binding process, and storing it in naturally formed gas reservoirs, which will provide urgently needed flexibility for renewable energy sources.

Technical aspects

This environmentally friendly process has three major advantages:

  • CO2 neutral – sustainable carbon cycle
    Renewable natural gas is carbon-neutral when it is used, because carbon dioxide is introduced and captured in the production process. This creates a sustainable carbon cycle.
  • Renewable energy becomes storable on a TWh-scale
    Solar and wind power output fluctuates seasonally and due to changing weather conditions,meaning that production cannot be adjusted to demand.The problem of storing renewable energy is solved by converting it into renewable natural gas.
  • Existing infrastructure is used
    Infrastructure already in place can be used for the natural production process, as well as for underground storage in natural gas reservoirs, and environmentally friendly transportation to consumers.

Contribution to energy transition

Natural gas storage facilities provide the essential service of seasonal compensation in the future energy system.

Thanks to Underground Sun Conversion-technology electricity can be converted into renewable gas and stored on large-scale on the same time.

The CO2 injected in the reservoir is part of a closed cycle and does not add to greenhouse gas emissions, compared to traditional production of natural gas.

In light of the Energy System Integration Strategy, this project turns RAG’s gas storage facilities into energy storage facilities, creating a link between and coupling gas and electricity sectors, so that they work together more closely.