International energy company NAFTA, leader in natural gas storage and underground facility development in Slovakia is further expanding in the United Kingdom while also consolidating its position in Ukraine.
While the COVID-19 pandemic had an impact on all businesses during 2020 and it was reflected especially in the decline in demand for oil and natural gas, NAFTA’s capability to provide safe and stable operation of its gas facilities proved crucial.
“We managed the situation during the pandemic well because of the rapid adaption of all safety and health measures and the commitment shown by our staff,” pointed out Martin Bartošovič, NAFTA’s Chief Executive Officer.
Having successfully established itself in Germany and its market, NAFTA turned to ensure that its underground storage facilities in Bavaria were operating reliably. They were already filled to their working capacity by the end of the year, confirming NAFTA’s service reliability and readiness for the winter season.
Even in 2020, NAFTA was expanding its activities abroad. In the UK, NAFTA started providing its own technical and underground gas storage services at Humbly Grove near London.
The year also brought expansion by the NAFTA Group into Ukraine, where it had already been active for close to five years. As a shareholder in EP Ukraine, NAFTA was successful in a tender and won two new licenses in Grunivska and Okhtyrska. Exploration also continued in Ukraine’s Uzhhorod and Vatazhivska licenses.
The company is also seeking to leverage its many years of experience in storing natural gas into innovative energy storage projects for the crossover to low-carbon energy. The advantage of storing renewables such as hydrogen in existing natural gas storage facilities is their enormous capacity as well as the ability of seasonal storage. Therefore, interest in creating synergies with renewable resources is clearly evident with the pilot installation of solar panels at selected operations.
“We believe that our developed infrastructure and long-term know-how will enable us to store hydrogen at our facilities along with natural gas,” added Mr Bartošovič.