Dutch gas producer and storage operator Nam is reoffering storage capacity at the Grijpskerk gas site for the current storage year, it said on Friday.
Nam is holding a new open season for the 24TWh site, with the successful bidder to hold the entire capacity from 1 July 2026 to 31 March 2027. Only one party can buy the full capacity because of technical constraints at the site, and the capacity will be allocated on a first-come, first-served basis, Nam said.
This is the second open season for Grijpskerk, after the first in March failed to attract a successful bid. The site's restrictions and scheduled unavailability remain unchanged from the previous offering.
The annual bundle fee for booking the site was reduced to €54.89mn ($63.32mn) because of the shorter timeframe.
There is little scope for Nam to allocate the capacity, as the site is not set up for multiple users and a single party is unlikely to take on such a large risk given supply uncertainty after the closure of the strait of Hormuz, market participants said. There is also little economic incentive for firms to book the site, as the TTF July-winter 2026-27 spread remains inverted and has been since the start of the US-Iran war. Argus assessed the TTF July-winter 2026-27 seasonal spread at +€1.99/MWh on Friday.
The reoffering shows that Nam did not reach an agreement with EBN for EBN to take over filling operations at the site, as it did for Norg, even though the Dutch climate and green growth ministry had previously said EBN could step in if storage capacity at Grijpskerk remained uncontracted to ensure security of supply.
