Gasunie launches EnergyStock B.V. for fast-cycle gas storage servicesGroningen | press release
- EnergyStock is the new name for gas storage facility Gasunie Zuidwending
- EnergyStock offers tailor-made solutions to optimise energy portfolios, to manage risks and to enhance trading possibilities
- Transition towards sustainable energy mix requires smart and fast flexibility services
- Unique fast-cycle gas storage with high injection and withdrawal rates, a switch time of under 15 minutes and a 30-minute nomination lead time
Gas infrastructure company Gasunie launches EnergyStock B.V., a company that facilitates flexibility services with its fast-cycle gas storage. EnergyStock B.V. is the new brand replacing Gasunie Zuidwending B.V. EnergyStock adds new services and opportunities to the market. It serves energy companies and traders with tailor-made solutions to optimise energy portfolios, to manage risks and to enhance trading possibilities. EnergyStock’s services are available at Europe’s most liquid hub, the TTF.
EnergyStock provides flexibility services for energy traders and energy companies in a rapidly changing landscape. Platforms for energy trading are growing and new, independent energy companies and private initiatives are entering the market. With its services the company enhances the performance of energy traders with asset-backed trading and speculative trading. It also serves energy companies who have a need for portfolio balancing and portfolio management. The name EnergyStock reflects the new strategy and the new positioning of the company.
Renewable energy requires flexibility products
One of the reasons for the growing need for flexibility is the increasing share of renewable energy sources such as sun and wind in the energy mix in the years to come. Renewable energy production is not able to offer the stability in energy supply that energy consumers need. Gas-fired power plants are ideal to cope with this volatility. Due to the fact that gas-fired power plants are very flexible in use and that gas is a relatively clean fossil fuel, a major contribution can be made to establish a sustainable energy supply that is stable at the same time. Power plants fired by natural gas are twice as clean as those using coal. EnergyStock can provide the flexibility that gas-fired power plants need.
Moreover EnergyStock has an important role to play in the storage of surplus energy from renewable energy sources. Via the innovative power-to-gas principle surpluses of renewable energy can be transformed into gas and easily stored.
EnergyStock: the power of flexibility
Engineered specifically for intra-day flexibility, EnergyStock’s underground gas storage is in a class apart from other, traditional gas storage facilities in Europe. EnergyStock operates the fastest gas storage facility in the world with significantly more cycles per year than traditional facilities, which mainly address a seasonal or peak pattern. EnergyStock’s injection and withdrawal specifications, high turnover rates and switch time of under 15 minutes from send-in to send-out (and vice versa) mean that it alone in Europe can provide the high-speed response needed to cope with the volatile patterns of the new energy world: intra-day flexibility available on demand.
See www.energystock.com for more details.