December 02, 2009, 12:18 CET
E.ON inaugurates region's largest gas storage facility in Hungary
The Hungarian unit of German utilities giant E.ON on Tuesday inaugurated a HUF 35bn gas store with capacity for more than 2.1bn cubic metres, making it the biggest gas store in Central and Eastern Europe.
The store was inaugurated by energy affairs minister Peter Honig and E.ON Gas Storage CEO Hans-Peter Floren.
E.ON will not pass on the cost of the investment to gas consumers, rather the company will recoup the cost from price changes the store will allow it to take advantage of, stocking up when gas prices are cheap and selling when prices are high, Mr Honig said.
Dusan Mrakic, state secretary at Serbia's mining and energy affairs ministry, expressed his country's thanks again to Hungary for offering assistance to Serbia, together with E.ON, during the gas crisis last year.
E.ON expanded its gas store in Zsana (SE Hungary) by 100m cubic metres in 2006 and by 200m cubic metres in 2007. The latest expansion was started in August 2008 and completed in October 2009, adding capacity for 600m cubic metres.
The daily release capacity of the gas store was raised by 4m cubic metres to 28m.
Hungary's strategic gas stores contain enough gas to meet domestic demand for 45 days, Mr Honig said.
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Better fill it up quickly! Only 8 gas buying weeks left until the annual Russia/Ukraine gas row.
"E.ON will not pass on the cost of the investment to gas consumers..." ??? Ha, ha, said the clown.
Gas is ultra-expensive in Hungary. That's why the locals (mostly gypos now) are cutting down every tree in sight. The air pollution is diabolical. Nem friss levegö.
Burning wood is not too bad, actually we like the smell...
But some people here burn coal and probably also old tires and plastic, that gives off really noxious odours...