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Virtual gas storage

storage capacity, infrastructures, investors, industrial, gas

About
 
Legislative Decree no. 130 of 13 Aug. 2010 introduced new measures to incentivise the creation of additional storage capacity in Italy, with a view to increasing competitiveness in the natural gas market.
Each party injecting natural gas into the national transmission network may increase his/her market share up to a threshold of 55%, if he/she:
 
• undertakes to build new natural gas storage infrastructures or upgrade existing ones – by entering into appropriate agreements with storage operators – and to make available at least 4 billion m3 of new storage capacity;
• undertakes to allow investors or investment consortia to participate in infrastructure development initiatives.
 
Eligible parties

Investors may participate in these initiatives for an overall volume of 4 billion m3, reserved as follows: 2 billion m3 for industrial final customers; 1 billion m3 for groups of final customers, i.e. small and medium enterprises qualifying as industrial customers; and 1 billion m3 for thermal power producers.
Industrial investors wishing to participate in this mechanism (if they have been selected by Stogit S.p.A. under a competitive auctioning procedure) may apply to GSE to obtain, in advance, benefits equivalent to those that they would get if the storage capacity corresponding to the allocated quotas were immediately operational, until the progressive entry into operation of the new storage capacity and for a period not exceeding 5 years.
 
 
GSE’s role
 
GSE will make available to the participating investors:
 
• transitory financial measures for the 2010-2011 and 2011-2012 storage years: for the storage capacity quota which has been allocated and not yet entered into operation, GSE will pay the difference between the prices of natural gas in the winter period and those in the summer period of the same thermal year;
• transitory physical measures: GSE will allow participants to deliver gas in summer and withdraw it in winter, at fees regulated by AEEG and discounted with respect to storage tariffs. For granting these measures, GSE may rely on virtual storage operators, i.e. parties authorised to operate in European gas markets and to withdraw gas in summer and redeliver it in winter. GSE will select virtual storage operators under competitive auctioning procedures. 
 
 
Transitory Measures for Investors
 
Investors may file an application with GSE to benefit from the transitory measures referred to in articles 9 and 10 of Legislative Decree no. 130 of 13 August 2010.
The applicant must: i) qualify as industrial final customer or consortium of industrial final customers; ii) meet the consumption requirements specified in art. 6 of the same Decree; iii) have been selected as industrial investor upon the competitive auctioning procedure held by Stogit S.p.A. as per AEEG’s Decision ARG/GAS 13/11.
Parties wishing to benefit from the transitory measures must register with the appropriate section of the Information Portal and log on into the "GGAS_SI" application. They will be authorised to file their application with GSE and subsequently manage the technical-administrative procedures associated with their contractual relationship.
 
 
Selection of virtual storage operators

For each storage year in respect of which participating investors have applied for transitory physical measures and starting from the 2012-2013 storage year, GSE will - by 28 February of each year – hold competitive auctioning procedures in order to select virtual storage operators for the following storage year.
The requirements for participation in the procedures are specified in the Regulations issued by GSE.
                                                                                                                                                                
 
 
 
 

 
 
 

Documents

This page was last updated on 20/03/2012