Czech ČEPS to buy six gas storage sites from RWE, covering about 36% of annual consumption

State-owned energy transmission system operator ČEPS will buy six underground gas storage facilities from the RWE Group. The facilities have a combined capacity of 2.7 billion cubic metres and should cover about 36 percent of annual consumption. The government decided on the purchase today. Prime Minister Petr Fiala (ODS) said this after a cabinet meeting.

He said the aim is to gain control over how gas is handled. The price will be announced on Thursday, when the contract is expected to be signed. According to the prime minister, it is supported by independent valuations. ČEPS is expected to finance the purchase from its own resources. Fiala said the investment will pay for itself within ten years.

„Owning the storage facilities will give the state certainty that it will be able to control how gas is handled in the event of a crisis,“ Fiala said.

Industry and Trade Minister Jozef Síkela said the purchase of the storage facilities is another step towards strengthening Czech energy security. He noted that gas will remain a key commodity for the development of the Czech energy sector until at least 2045, making it advantageous for the state to have direct and immediate influence over strategic infrastructure.