1. July 2020
Becoming part of RWE
The ownership of innogy Gas Storage, the biggest operator of underground gas storage in the Czech Republic, is currently being transferred to the Germany-based RWE Group. The transaction is part of an exchange of renewable energy assets between RWE and E.ON negotiated in 2018. The storage operator will change its business name to RWE Gas Storage CZ, and it will continue to focus on providing supply security for natural gas in the Czech Republic. Both of the current Executive Directors, Andreas Frohwein and Lubor Veleba, will remain at the company's helm as CEO and CCO, respectively.
It is a positive development for RWE to take a strong position again in the field of natural gas storage. Natural gas is an essential part of the modern and safe energy supply system, which is future oriented and promotes the increasing use of renewable energy sources. Underground gas storage facilities play an indispensable role. They guarantee supply security, are flexible, and available at any time.
RWE Gas Storage CZ will continue to be the biggest operator of underground gas storage facilities in the Czech Republic. The company runs six facilities with total storage capacity for 28.7 TWh. They include a unique cavern storage site in Háje in the Příbram District in Bohemia, the Dolní Dunajovice and Tvrdonice storage plants in South Moravia, and the Štramberk, Lobodice, and Třanovice facilities in North Moravia.
The company is able to withdraw as much as 422 GWh of natural gas per day from its storage facilities, which accounts for nearly two thirds of the peak demand of the entire country. Underground gas storage (UGS) facilities play an indispensable role in providing supply security for Czech residential and business customers during the winter. "On very cold days, storage facilities supply more than a half of gas consumed in the entire Czech Republic," adds Lubor Veleba.
The key factor in gas storage is ensuring the safe and reliable operation of UGS facilities. "Underground storage facilities feature a unique technology that requires meticulous, highly technical maintenance. For that reason, we invest tens of millions of crowns into the reliability and safety of our storage facilities," Andreas Frohwein explains.