WINGAS hives off storage activities into independent company
With capacities of six billion cubic metres, astora will become the largest storage operator in Europe
Kassel, 29 February 2012. The natural gas supply company WINGAS is hiving off its storage activities into an independent company. In future, the storage division of WINGAS, which was already unbundled within the company in 2006, will trade under the name of astora GmbH & Co. KG. “With the current storage facilities and storage projects that are close to the market, astora is well positioned on the European energy market,” commented Gerhard König, Management Spokesman of WINGAS, during the announcement of the new storage company. “Astora’s portfolio is of great interest to both suppliers and spot market traders alike. We are therefore confident that the new company will be a success.”
Encompassing the largest natural gas storage facility in Western Europe in Rehden in Lower Saxony, the Haidach natural gas storage facility in Austria and the Jemgum storage project on the German-Dutch border, astora will have a storage capacity of six billion cubic metres in future – making it one of the largest storage operators in Europe.