Gas storage FA wanted
Avelar is said to be close to appointing a financial advisor for its natural gas storage subsidiary Geogastock, which is planning two gas storage facilities in the provinces of Matera and Basilicata that could cost up to €500m. The company will hold 20-year concessions from the government that can be renewed for 10 years twice. The plants are expected to be operational in 2011 with a total capacity of 700bcm.
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