Belgium may provide Russia gas storage space
Belgium may provide Russian energy giant Gazprom space to store gas in an underground storage site in Flanders under an agreement signed Wednesday during a visit by Russian President Dmitry Medvedev.
The two sides agreed to explore the possibility of allowing Gazprom Export to reserve long-term storage capacity at the facility owned by Belgian natural gas firm Fluxys in Loenhout, a town near the Dutch border.
"The usage of underground natural gas storage facilities in Europe is a high priority for Gazprom as a way to ensure security of Russian gas supply," Gazprom Export director general Alexander Medvedev said in a joint statement with Fluxys.
Under the current legal framework, Fluxys must give priority for its storage space to companies that supply public distribution networks, a service that Gazprom does not provide.
The two companies signed a memorandum of understanding to "investigate the economic and legal feasibility of Gazprom Export reserving long-term storage capacity."
The document was signed on the sidelines of an official visit by the Russian president, who had met with top European officials the day before.
© 2010 AFP