Fluxys: Entire Package of Short Term Storage Capacity Auctioned (Belgium)

Fluxys said today that it has auctioned all its short term storage capacity on offer. A total of 280 million cubic metres of storage capacity was available for yearly contracts covering storage year 2012-2013.

Fluxys registered 11 customers as bidder for the auction. The opening bids showed an overall demand of 330 million cubic metres of storage capacity. The auction closed yesterday with the available 280 million cubic metres of storage capacity entirely sold.

This auctioning of capacity was a first for Fluxys. The technical process went flawless and a helpdesk was provided for to assist the bidders. The auctioning mechanism and overall approach was developed in close consultation with the community of system users and Belgian federal energy regulator CREG.

The auction’s success confirms the interest the market has shown for Fluxys storage in November-December 2011 during the subscription window for 400 million cubic metres of long-term storage capacity. With overall demand for long-term storage totalling 600 million cubic metres, the entire capacity on offer sold for the maximum period of 10 years as of storage year 2012-2013.

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LNG World News Staff, January 26, 2012