29 Jan 2007
INEOS
ENTERPRISES AND EDF TRADING START OPERATION OF NEW GAS STORAGE
FACILITY
INEOS Enterprises has this week started operation
of its Holford H165 gas storage facility in Cheshire. The facility,
owned and operated by INEOS, has previously been used by National
Grid for daily balancing in the local distribution zone. INEOS
Enterprises and EDF Trading have now established the facility
for trading at the NBP.
Holford H165 consists of a single gas cavity
with very high rates of deliverability and injectability. The
facility can handle approximately 1 million therms of gas per
day, which will be used to support the UK gas market during
periods of large supply and demand variation. The facility has
been exempt by Ofgem from third party access.
INEOS Enterprises is currently developing
its own gas storage facility at Stublach, Cheshire, following
granting of planning permission in December 2006. The Company
is also working with E.ON to develop its gas storage facility
at Byley, also in Cheshire.
EDF Trading owns the Hole House gas storage
facility close to H165 and has gained significant experience
in developing, operating and trading fast cycle salt cavity
storage. Hole House is currently being expanded and will increase
its capacity by 50% in mid 2007.
"We are very pleased to work with INEOS
to set up the facility for trading. Our involvement in Holford
H165 and Hole House supports our commitment to providing liquidity
to the UK gas market," says Philipp Bussenschutt who is
responsible for EDF Trading's gas storage business.
ENDS
For further information please contact
the INEOS Enterprises Press Office:
Craig Welsh, INEOS Enterprises Press
Office
Telephone: 01928 511528
Email: craig.welsh@ineoschlor.com
or
Kerry Kennedy, EDF Trading Limited
Telephone: 0207 0614232
Email: kerry.kennedy@edftrading.com
Notes to Editors
1. INEOS Enterprises consists of a group of eight businesses,
each a leader in its area of activity. The Company is focussed
on the developing needs of customers and rapid growth through
investment in new products and manufacturing facilities or by
acquisition. The INEOS Enterprises spirit is entrepreneurial
and the Company is always seeking to invest in new market opportunities.
The Stublach Gas Storage Project is highly compatible with our
existing infrastructure and builds on over 70 years of proven
safe solution mining and over 20 years experience in the underground
storage of natural gas and ethylene.
2. EDF Trading is a leader in the European and international
markets, actively trading across all the energy commodities
including power, emissions, gas, coal, freight and oil. As the
wholesale market interface for the EDF Group, EDF Trading optimises
the Group's assets including its electricity generation plants
and contractual rights. EDF Trading is one of the largest natural
gas traders in the northwestern European market and is active
along the entire gas supply chain from purchasing offshore production
to transportation, storage, trading and supply. The company
acquired the rapid cycle gas storage facility at Hole House
in Crewe in 2002. EDF Trading also has long-term capacity rights
to the UK Interconnector to Belgium as well as long-term natural
gas purchase and sale agreements with EDF and other market counterparties.
The Company is also developing its LNG trading business with
the acquisition of regasification capacity at the Montoir LNG
terminal.
