Gas producer Kistos is now the sole owner of two fast-cycle gas storage sites in the UK, it said in a stock-exchange statement April 23. It paid EdF £25mn for the assets, one of which is inactive. It said the deal would provide business diversity and would be valuable as the UK relied more on intermittent renewable energy. Further development of the sites as hydrogen or compressed air storage is also a possibility.
Hill Top’s working gas capacity is 17.8mn therms and there is a programme to increase this to 21.2mn therms. The other site has been mothballed since 2018 but Kistos plans to reactivate it.
Executive chairman Andrew Austin said he looked forward to working with the existing team and establishing Kistos’ presence across the energy value chain.
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