Russia Today: Gazprom doubles gas storage to meet demand spikes

Russia’s Gazprom says it plans to double its underground storage capacity in Europe.

“It’s necessary because storage is a key instrument to the security of supply for extreme situations like this winter, because we cannot predict such a winter will not repeat next year or in the next five years”, said Mr. Medvedev. He added the firm has already approved the investment of up to 300 million Euros in the project.

The “European market is still very fragmented” and another important measure to “improve the comprehensive gas-supply system in Europe and thus enhance energy security” is investment in the Nord Stream and South Stream gas trunk pipelines and other local gas interconnections, says Alexander Medvedev. The gas pipes are intended to carry natural gas more efficiently to European customers.  MORE