0
     

Underground Gas Storage – Balancing the Energy Fluctuating Demands

Oct 4,2021 | Non-Renewable Energy

Natural gas is a non-renewable source of energy that is used for generating electricity, heating water and buildings, use in cooling equipment, to dry clothes and cook food, outdoor lightening and for industrial use. As gas consumption is defined by seasonal instability, special underground gas storage (UGS) facilities are created to store the natural gas, in order to ensure smooth and consistent gas supplies.

Excess natural gas can be stored in both gaseous and liquid form. Appropriate storage areas include exhausted oil and gas fields, aquifer storage fields and salt cavern storage. The underground gas storage (UGS) method has proven to be a tactical method to balance the supply and demand sequence throughout the year.

As of September 2021, North America had 468 active underground gas storage sites with a total working gas capacity of 5,780.8 billion cubic feet (bcf). The region’s share in the global working gas capacity is 36.8 percent. Europe had 151 active underground gas storage sites with a total working gas capacity of 4,269.6 bcf. The region’s share in the global working gas capacity is 26.8 percent. Former Soviet Union had 53 active underground gas storage sites with a total working gas capacity of 4,416.3 bcf. The region’s share in the global working gas capacity is 27.7 percent.

Bharatbook offers the latest report on the aforementioned market, which consists of updated information on active, planned and announced underground gas storage sites in North America, Europe and Former Soviet Union. It provides key details such as site name, operator name, type, start year, total storage capacity, working gas capacity, maximum withdrawal rate for all active, planned and announced underground gas storage sites in North America, Europe and Former Soviet Union. Besides it also includes capital expenditure outlook by year and by key countries for planned and announced underground gas storage sites in North America, Europe and Former Soviet Union for the period 2021-2025. 

The analysis also covers the latest developments and contracts related to underground gas storage industry at country level, obtain the most up to date information available on active, planned and announced gas storage sites in North America, Europe and Former Soviet Union, identifies growth segments and opportunities in the underground gas storage industry, facilitate decision making on the basis of strong historic and outlook capacity data and assess your competitor’s key gas storage sites portfolio.

To know more about the market, please visit Underground Gas Storage Industry.