Investment Entity: Continental Gas Storage, GmbH
Geography: Northern Germany
Sector: Natural Gas Storage
Investment Fund: Fund IV
Initial Investment: December 2010
As Haddington looked to uncover opportunities to develop natural gas storage, the management team developing Continental Gas Storage in Epe, Germany approached Haddington about a potential investment. After extensive study, Haddington determined that the regulatory changes in Europe, directed by the European Union, provide opportunities for independent development of new natural gas storage assets there. Northwestern Europe is significantly short storage, with only 13% of annual gas consumption in gas storage capacity, versus 19% in the United States.
Haddington is currently conducting additional due diligence on the investment and expects to close an investment by early 2012.
