VNG Gasspeicher successfully marketed its new virtual-physical storage product

Leipzig, March 18th 2014

Yesterday, VNG Gasspeicher GmbH (VGS) successfully ended the tender procedure for the marketing of its product "VP Storage GASPOOL" on easystore, its online platform. A total of 19 bids were placed for the selected configurations meaning that demand for the offered services greatly exceeded availability.

Since the 7th of March, 2014 five selected configurations for the product had been published on the easystore platform. The capacities for the five products ranged between 120 GWh and 450 GWh with a turnover duration of, a minimum of 116 days and at most, 178 days.

"The marketing of our virtual-physical product was very successful. It underscores the keen interest in flexible and secure storage products", said Bernd Protze, VGS's managing director.

The product "VP Storage GASPOOL" is a so called "virtual-physical storage". That means trader do not book capacities any longer directly at the storage locations of VGS but exclusively at the virtual trading point (VTP). Subsequently VGS organises the transport from the VTP to the physical storages as well as all downstream processes including monitoring of calorific values or storage characteristics. One key advantage of the product is that the natural gas not only enters the natural gas balance group or the trader's portfolios but actually is stored physically.