Dutch energy company to invest almost €8 billion in sustainable gas storage

Energy network company Gasunie is investing almost eight billion euros until 2030 in the transport and storage of hydrogen, CO2, warmth, and green gas. The company reported this during the publication of its mid-year numbers.

Natural gas will be needed for the next few decades as an add-on to green energy, according to Gasunie. "At the same time, we want to offer the users of our infrastructure good alternatives as quickly as possible."

Gasunie's net profit dropped by 171 million euros in the first six months of this year. The largest part of the decline was caused by the regulation system that the Netherlands and Germany have to deal with. The network administrators of Gasunie sold much more capacity than expected and at much higher prices on some occasions in 2022 due to Russia's invasion of Ukraine. These additional revenues will be returned to the market in the form of lower rates in 2024 and subsequent years.

According to Gasunie CEO Willemien Terpstra, who started the position in March, it has become clear in the last few months how important natural gas is in the current energy system.

Norway has now taken over Russia's role as the primary source country for natural gas. "Markets react nervously to minor disruptions in the supply of Norwegian gas." Gasunie recently warned that the Netherlands could face a gas shortage if the government does not take measures in the coming years.