WINGAS GmbH and Rohöl-Aufsuchungs AG (RAG) inaugurate Haidach Natural Gas Storage Facility

On 24 May 2007, GAZPROM EXPORT, WINGAS GmbH and Rohöl-Aufsuchungs AG (RAG) officially inaugurated the natural gas storage facility at Haidach near Salzburg. The first construction stage of Austria's biggest and Central Europe's second biggest natural gas storage project was realised in compliance with the highest environmental quality and safety standards in a record time of only two years. Its second construction stage starts at the end of the year 2008 and shall be completed by April 2011. Haidach natural gas storage facility may store up to 2.4 Gm³ of natural gas, doubling Austria's storage capacities. The storage will be constructed as a concessionaire and technically operated by RAG. Its investment volume totals EUR 250 million.

Stocktaking of natural gas is an important and flexible instrument to balance its changing supply-demand ratio due to seasonal fluctuations. Natural gas storage is instrumental to ensuring stable supply, balancing fluctuations in natural gas demand and peak shaving during winter months. GAZPROM consistently implements its policies of expanding European networks of natural gas storage facilities which gain special importance in current developments of liberalized natural gas markets in Europe. The new gas storage facility undoubtedly enhances reliability and flexibility of Russian natural gas supplies to European consumers, substantially adding to Europe's security of supply in general', says Alexej Miller, chairman of the managing board of GAZPROM.

By this joint project and conversion of the depleted natural gas field of Haidach, found by RAG in 1997, to natural gas storage re-use, three companies such as GAZPROM EXPORT, WINGAS GmbH and Rohöl-Aufsuchungs AG (RAG) rely on the best and most reliable form of storing environmentally friendly natural gas. In addition to re-use of the gas field for storage purposes, Haidach natural gas storage facility is linked to the natural gas terminal Burghausen/Überackern, connecting natural gas transmission pipeline systems of Austria and Germany