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Dutch Government Releases Further Subsidy to Target Gas Storage Goals

NATURAL GAS

The Netherlands is set to release extra subsidies to ensure domestic gas storages are filled ahead of winter according to the government today.

  • An extra EU10m will be spent to ensure the gas storage in Bergermeer is filled to about 90% of capacity by November 1– equating to around 4.1 billion cubic meters of gas. The earlier goal was 68%.
  • The Dutch government will also use the remainder of its current 200 million euro subsidy set aside for domestic gas storage.
  • "With this Cabinet decision, the storages will be filled in a safe way to easily above the European target of 80%", the ministry said in a statement.
  • Current Dutch gas storage is just over 71% full.
  • A subsidy is being worked out for the Norg storage facility so further filling can take place there
  • The Netherlands has substantially reduced its gas demand this year versus last. Consumption was down at least 25% in the first five months versus a year prior.
Energy BulletsCommodities
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