Geogastock
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Geogastock is a company established to develop a natural gas storage project. The company is a subsidiary of Energetic Source (100%).
The storage project refers to two depleted gas fields located in Grottole, Salandra, and Pisticci municipalities (province of Matera, Southern Italy) which have already been used for storage activities from 1977 to 1985.
Technical project is structured into two phases, based on a modular development strategy:
- Phase. 1: this phase consist in the upgrade of 15 existing wells and the construction of new compression and gas treatment facilities
- Phase. 2: this phase require drilling and development of about 17 additional wells and the extension of gas gathering system
The storage operation will start before completion of phase 2, while drilling news wells.
Phase 1 of the project has obtained the permits for Environmental Compatibility in February 2009, and is currently waiting to receive the final authorisation which is expected in 2012 (the authorisation will last 20 years, followed by two-ten years periods of renewal). The Working Gas of Phase.1 will be about 1 Billion of Scm (10% of total Italian storage capacity) with a maximum daily rate of 15 Millions Scm. At the end of Phase.2 the Working Gas is extimated of about 1.4 Billion of Scm with a maximum daily rate of 20 Millions Scm
