Work starts on TAQA's Dutch gas storage project
Abu Dhabi set to invest $1bn to build open access natural gas facility
Abu Dhabi National Energy Company (TAQA) has held a ceremony in the Netherlands as construction begins on the firm’s Bergermeer Gas Storage project – set to be the largest open access natural gas storage facility in northwest Europe.
The new facility will have a working volume of 4.1 billion cubic metres – equivalent to the average annual gas consumption of 2.5 million Dutch households- and will effectively double the current storage capacity of the Netherlands.
TAQA is set to invest around US $1 billion in the project, together with partner EBN, to drill 14 new wells and build a gas treatment installation in Alkmaar, together with the connecting pipelines.
“As the world’s energy needs grow, natural gas will play an increasingly important role. Gas is the only fossil fuel expected to increase its share of demand in the years to come. Gas is key to the long-term strategy of TAQA and Bergermeer is the centerpiece of this strategy,” said TAQA CEO Carl Sheldon.
Netherlands Deputy Prime Minister, Maxime Verhagen, said of the development: “We are delighted with this investment by our friends from Abu Dhabi. The Dutch gas industry plays a leading role in our top sectors policy. We are doing everything we can to create an optimum business climate. The doors are wide open to foreign investors. And we’re happy TAQA spotted that. What makes their investment so special is that is serves our international, national and local interests.”