Welcome to STORAG ETZEL
STORAG ETZEL GmbH is a wholly-owned subsidiary of IVG Immobilien AG, a conglomerate headquartered in Bonn, Germany, focusing on office real estate in various domestic metropolitan areas.
Mid 2016, IVG completed the project of renaming its subsidiaries, resulting, amongst others, in the company name STORAG ETZEL.
Enabling the company to pursue an self-contained and commited market approach, independent from other business lines of the parent company, was the primary objective of the company’s rebranding.
STORAG ETZEL was formerly known as IVG Caverns GmbH.
The cavern site Etzel is situated on the North German energy hub near Wilhelmshaven, with a connection to the deep water port. STORAG ETZEL is in the cavern business since 1971 and has a great deal of experience in constructing (leaching), operating and leasing caverns. The company originally managed the site in Etzel partly on a trustee basis for the Federal German government well until 2005.
The cavern site currently includes 75 existing gas and oil storage caverns with a capacity of approximately 46 million cubic metres (July 2017). Moreover, STORAG ETZEL holds the rights to build additional caverns.
The completed caverns are rented to companies in the energy branch and to petroleum stockpiling agencies in Europe. The storage caverns are connected to the European energy grid by oil and gas pipelines. They are used by customers to cover peaks in consumption, as interim storage for import deliveries and in particular for the storage of a large part of the strategic oil reserves for Germany.
The market for the storage of oil and gas is becoming more important than ever: As the extraction of most raw materials takes place in politically unstable regions, commodity prices are always subject to strong fluctuations. Oil and gas suppliers are reacting to this situation by trying to counteract fluctuations by setting up an appropriate storage infrastructure. The resulting rising demand for oil and gas storage facilities opens up considerable business opportunities for STORAG ETZEL.