Gazprom, Czech MND to build EUR 128mn underground gas storage facility

By bne IntelliNews March 21, 2013
Russia's Gazprom has signed a contract with Czech oil and gas company MND Group to build a USD 128mn underground gas storage facility in Damborice, in the Czech South Moravian region, Gazprom said in a statement.

The construction of the facility will start in 2014 and is scheduled to be commissioned in 2016. It will have a working gas capacity of 448mn cubic meters, thus making it one of the largest facilities of its kind in the Czech Republic.

MND, owned by KKCG group of Czech billionaire Karel Komarek, specialises in exploring, searching and extracting crude oil and natural gas in the Czech Republic and abroad. It also builds and operates underground gas storage facilities.

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