HyStock starts 'Open Season' for hydrogen storage

The Netherlands needs to become more sustainable and hydrogen will play an important role in this. Both as raw material and as energy carrier. As the demand and supply of hydrogen are often mismatched, there will be a need for large-scale storage.

Therefore, HyStock is working on the development of a number of salt caverns for hydrogen storage in Zuidwending (near Veendam). According to current planning, the first cavern will be operational in 2028. The other three caverns will be completed soon after 2030.

HyStock develops for the market and makes investment decisions in line with market demand. To stay on track with the current planning, HyStock must make another investment decision soon. This decision requires commitment from the market.

Using an 'Open Season' process, market participants will have access to storage capacity in the first cavern in an objective, transparent and non-discriminatory manner. The available capacity consists of storage bundles with a fixed proportion of injection-, withdrawal- and storage capacity. HyStock hereby requires financial guarantees from these market parties, with the intention of a binding contract. With the expected scarcity in mind, market parties have the opportunity to have certainty about the capacity available for them in the first cavern. It will also avoid delaying the HyStock project by waiting with the upcoming investment decision.

HyStock intends to start the 'Open Season' and share all information about the process on June 15. The first results will be announced this summer.

Parties that want to participate but have not yet concluded a Non Disclosure Agreement with HyStock can contact [email protected].