Portuguese oil company Galp Energia SGPS SA (GALP.LB) and Portuguese utility Redes Energeticas Nacionais SGPS SA (RENE.LB) Wednesday signed a memorandum of understanding to build up to four underground gas storage facilities, Galp said in a statement.

The facilities will increase Portugal's natural gas storage capacity, which stands at 215 million cubic meters.

-By Bernd Radowitz, Dow Jones Newswires, 34-91-395-8125, bernd.radowitz@dowjones.com
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