When the companies applied for the fields back in June, Po Valley said the storage of gas in underground depleted reservoirs was one of Europe's fastest growing energy-related businesses.
"Large storage capacity is required to meet Italy's seasonal swings in gas consumption and spikes in usages," Po Valley managing director Michael Masterman said at the time.
Po Valley's partner in the JV Star Energy is the United Kingdom's second largest largest onshore oil producer and a major operator of underground gas storage facilities.
This morning, Po Valley said the partnership had submitted the tender into a competitive bidding process for gas storage fields in Italy.
It expects to know the Italian Ministry's decision on the successful application in January.
