Gas-Plus joins GDF, Acea in gas storage site
The JV of GDF and Italy's Acea has been broadened to include Italy's fourth gas producer, Gas-Plus, in order to convert the depleted San Benedetto del Tronto gas field in the Marche region into a gas storage facility.
PARIS, July 8 -- The 70-30 joint venture of Gaz de France and Acea, Italy's electricity, gas, and water service company, has been broadened to include Italy's fourth natural gas producer, Gas-Plus, in order to convert the depleted San Benedetto del Tronto gas field in the Marche region into a gas storage facility.
The Economic Development Ministry allocated the field to GDF and Acea following an international tender. GDF and Acea will own 51% of the JV, with Gas-Plus, which will operate the site, holding 49%.
Scheduled to be on stream in 2012-13, the storage facility will have an estimated capacity of 500 million cu m, which will account for some 5% of Italy's current storage capacity.
This is GDF's first venture into gas storage in Italy. It will consolidate its presence in a market where it currently is the third largest supplier of natural gas and the fourth largest gas distributor. The group also is developing an LNG terminal in the Marche region.