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Vienna, 8 April 2008

4th IG Meeting Meeting Guide. Vienna, 8 April 2008. Agenda. 1. Opening. Approval of the agenda Review of action points from from 3rd SG Meeting (22.1.2008, Prague) Approval of minutes from 3rd SG Meeting (22.1.2008, Prague)

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Vienna, 8 April 2008

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  1. 4th IG Meeting Meeting Guide Vienna, 8 April 2008

  2. Agenda

  3. 1. Opening • Approval of the agenda • Review of action points from from 3rd SG Meeting (22.1.2008, Prague) • Approval of minutes from 3rd SG Meeting (22.1.2008, Prague) • Are there any AOB:Suggestion: Presentation by BOG GmbH on WAG extension • Any other AOB?

  4. 1. Opening • Review of action points from last meeting

  5. 1. Opening • Review of action points from last meeting

  6. 1. Opening • Approval of minutes from 3rd SG Meeting (22.1.2008, Prague) • Comments – as far as they have been sent – have already been included into the new version of the minutes • All documents are available online:http://www.energy-regulators.eu/portal/page/portal/EER_HOME/EER_INITIATIVES/GRI/South_South_East/Meetings1/SG_meetings/3rd_SSE_SG • Are there any additional comments?

  7. 2. Regional cooperation – Update 2.1. Cooperation of regulators • Draft MOU has been circulated for comments • Comments have been received • Main areas: • Co-ordination, information and harmonisation • Regulatory Co-ordination • Regulation of the Gas Market • Sharing of Information • Consultation • Avoidance of Inconsistency of Action • Operation of MoU • Term of MOU and Review • Dispute Resolution • Aim should be to make cooperation visible to the outside world • SSE Regulators‘ network

  8. 2. Memorandum of Understanding • Aim: discussion of text today • Signing: Next RCC meeting on 9/10 June in Athens, Greece • Aim should be to make cooperation visible to the outside world • Website for SSE Regulators‘ network

  9. 2. Regional cooperation – Update • 2.2. Update on Regional Gas Grids • Workshop participants identified scope for the regional cooperation in the following areas where regional TSO cooperation delivers the greatest benefits to market integration • Access to capacity/Congestion Management at Cross Border Points • Management of capacities (“one-stop-shop”) • Easier access to the systems through Interconnection Point Agreements • Harmonisation of services • Merging of balancing zones to foster wholesale trading • Regional investment planning to remove physical congestion • Roles and responsibilities • Cost / Benefit analysis

  10. EFET R_ISO Model – Why? R_ISO (multi-TSO) and aspects of security of supply • physical capacity available from source to final customers? • Transport cost clearly calculable at point of supplier‘s decision on where tosource gas from? • Historically, many major investments happened because of international (cross-border) consortia/cooperation (e.g. Megal, TAG, BOG,…) • Aim must be that at least some different supply sources must potentially physically arrive in each area – no security of supply without physical interconnection (long term and short term)

  11. EFET R_ISO Model – Benefits for competition R_ISO and aspects of competition • final customer • Pooling of consumption withinone balancing area – increase of negotiating power • Larger netting of imbalance positions reduces opportunity costs for suppliers • More potential suppliers, reductionof market concentration • for shippers/suppliers • More similar customers in one market area • Reduced opportunity cost: nomination, balancing,registration, etc.. reduced risk to deliver • Macro-economic/political • Potential of economies of scale for system operation • Eg potential for higher capacity provision through larger flow optimisation • Reduced national influence Grid 2007

  12. GRI SSE: EFET R_ISO Model – Comments received • A stakeholder consultation on R_ISO model took place, the deadline was 10 January 2008 • Comments from following parties has been received so far: • CEER – supportive, asks for more details • OGP – rather supportive, wants to avoid inefficient structures and more detail on the economies • Eurelectric – supportive • Eurogas – supportive • GTE – does not want to make effort before 3rd package, however acknowledges benefits of European integrated flow optimisation (winter outlook) • Based on the first reaction during the WS in Prague the GRI SSE decided to launch an impact assessment analysis ---> resultsto be presented in June at SG GRI SSE • EFET has prepared an evaluation paper of the comments received

  13. GRI SSE: Benefits of integrated flow pattern • GTE presented benefits of European flow optimisation in its winter stress presentation at last meeting in Prague 22.01.2008 • EFET SSE welcomes the integrated flow optimisation approach by GTE

  14. Proposed timeline for establishment ofa regional E/E model in SSE Regional entry-exit model end 2011 mid 2011 end 2010 mid 2010 end 2009 mid 2009 end 2008 Joint regional network operation Coordinated investment planning and regional balancing Harmonised regional network access Regional auction platform and market based balancing Harmonisation of rules at regional level (common transmission model) Interconnection agreements (incl. operational balancing accounts)

  15. EFET R_ISO Model - Conclusion • EFET is going to contact all interested associations in order to get to a common view on the possible development of the regional model – within next month • EFET believes that starting implementation of such a model now is key for further development of the liberalised market and taking already the elements of the 3rd package on board • For SSE: Wait on the results of the PWC multi-client study (PWC sent out questionnaire to traders and shippers) • For SSE: Establish an advisory panel for additional help • Regions must be established on a pragmatic basis, CEGH finally established, Italy should also introduce a balancing market • Regions obviously must be compatible with each other • Germany is moving: • E-ON CEO Bernotat statement for electricity; • EGT and Bayernet • MOL proposal goes even further

  16. 2. Regional cooperation – Update • 2.3. Update on New European Transmission System

  17. Update on the NETS ConceptA new, value creating, cross-border business Initiative 4th IG Meeting Vienna 8th April 2008

  18. Review: NETS – The Concept Potential Member Countries of New Europe Transmission System (NETS) • Proposal to unite Central and South-Eastern Europe’s gas pipeline networks within a new and independent regional natural gas transmission company • Significantly higher value for shareholders than operating separate systems • Would be well positioned to leverage international capital markets to finance major infrastructure development projects • Consumers would also enjoy the benefits of an integrated platform for natural gas supply and a greater overall security of supply Poland Germany Czech Republic Ukraine Slovakia Hungary Austria Moldova Slovenia Romania Croatia Bosnia Italy Serbia Montenegro Bulgaria Macedonia Albania Greece Turkey Source Company Information

  19. Status Report of NETS

  20. Participants of the 1st Roundtable of TSOs in Bucharest on 14-13th March, 2008 From left to right:Dabris Bucanac - Director of Corporate Functions, Plinacro, Croatia Vlad Pavlovschi - Transgaz SA, Director of Resources, Engineering and Regulation Division, Romania Sasa Ilic - Acting General Manager, JP Srbijagas, Serbia Goran Francic - Plinacro Director of Development Division, Croatia Branko Radosevic – President of the Board, Plinarcro, Croatia Nadzina Ninkovic – BH-GAS, Executive Managaer, Bosnia-Hercegovina János Zsuga – Chief Executive Officer,FGSZ Földgázszállító Zrt., Hungary Vidmantas Jankauskas - Project Ambassador, Expert on Regulatory Issues, REKK, Hungary Ioan Rusu – General Manager, Transgaz SA, Romania László Varró – Chief Economist, MOL GROUP, Hungary Michael Woltran – Managing Director, OMV GAS, Austria Marko Ilersic - Head of Commerce and Finance, Geoplin Plinovodi, Slovenia Iain Smedley - General Manager, Morgan Stanley – London Olivier Silla – Representative of DG TREN, EU

  21. Issues Presented on the 1st Roundtable of TSOs in Bucharest • NETS: A Broader Perspective – by László Varró, Chief Economist, MOL GROUP • Case Study – Creation of Snam Rete Gas – by Domenico Siniscalco, Morgan Stanley Dealing with financial and structural Issues 3. Alternatives of Common Operation – by Ian Smedley, Morgan Stanley Proposed structure of workstreams Study company considerations 4. Businesss Strategy and Vision – by János Zsuga, CEO, FGSZ Zrt., MOL GROUP Business vision Business strategy and objectives Analysis of synergy potential 5. Regulatory Issues – by Vidmantas Jankauskas, International Expert on Regulatory Issues Review of possible regulatory stragegies Proposed regulatory framework Long term regulatory vision 6. Energy Policy and Public Affairs – by Ian Smedley,Morgan Stanley Governmental dialogue and external dimensions Managing stakeholder communications Public buy-in through public relations 7. Financial and Structural Aspects - by Ian Smedley,MorganStanley 8. Next steps to be taken - by László Varró, Chief Economist, MOL GROUP

  22. Achievements: Participants* mutually agreed to investigate NETS’ feasibility by establishing a Steering Committee and delegating representatives in the 4 proposed Workstreams as follows POTENTIAL WORKSTREAM ORGANIZATION Steering Committee Company Representative Company [ ] BH-Gas [ ] Geoplin Plinovodi (?) [ ] FGSZ Natural Gas Transmission, MOL GROUP [ ] OMV Gas (?) [ ] Plinacro [ ] Srbijagaz [ ] Transgaz SA Business Vision and Strategy Regulatory Energy Policy and Public Affairs Financial and Structural Participants*: BH-Gas, FGSZ Natural Gas Transmission Zrt. - MOL GROUP, Plinacro, Srbijagaz, Transgaz SA

  23. Summary of the Event: Common press release in 40 different local and regional media At the end of the meeting Transgaz’s CEO Ioan Rusu stated: “This has been a tremendously successful meeting and a move forward for NETS, this one-of-a-kind initiative in Europe. It demonstrates the high level of business cooperation our companies are capable of, as well as the commitment to competitiveness we are aiming to achieve in the context of an integrated European energy market”. “It is a great honor for BH-Gas and me personally to attend today’s meeting. This event is of great importance for both BiH and BH-Gas, taking into account that the natural gas field in BiH is still developing compared to other companies in the region. The NETS initiative may lead to launching and implementing important development projects for us. Our plans focus on the development of gas infrastructure, in order to increase the capacity of existing transmission systems. At the same time we also concentrate on diversifying the transmission routes and supply sources as well as on constructing underground gas storage. By accomplishing such projects, BiH would increase the natural gas share in the energy mix from the present 7% to the forecasted level of 15% by the end of 2020” said Nadzida Ninkovic, Executive Manager BH-Gas, Bosnia-Herzegovina’s gas transmission company. “This is a great step forward for NETS, as seven of the regions’ leading companies have today said that they support the concept in principle and are interested in working together to see how it can best be turned into reality”, commented Dr János Zsuga, the CEO of MOL Natural Gas Transmission Plc. He added.“ “Plinacro supports the initiative for cooperation, interconnection and joining of TSOs in the region with the aim to find the answer to question and challenges which are to come. We have discussed possible concepts and models of cooperation and interconnection. We think this is an extremely demanding and ambitious project and that today we have made the first step in the right direction. We agree to establish working groups to deal with all aspects from their respective fields in a professional manner and give the exact data as well as the pros and cons, on the basis of which we may bring adequate decisions and propose solutions to our owners. Plinacro will participate in this project and will bring its contribution to it”, said Branko Radošević, President of Plinacro Board, the Croatian gas transmission company. “The meeting in Bucharest confirmed that NETS concept, that aims establishing an independent regional natural gas transmission company is extremely attractive for all participants. It woud help increase the efficiency of existing capacities, bringing benefits that could make each of the markets more reliable in terms of security of supply and growth. Of course, we are at the beginning of a long and challanging harmonisation process of national gas transmission systems, but we believe that the NETS project is feasible. Srbijagas will actively take part in the future steps connected to the NETS project”, said Sása Ilić, General Manager of Srbjgas. The meeting was honored by MrOlivier Silla from the European Commission Directorate for Energy and Transport, who stated: “The Commission supports this project, which provides increased co-operation between TSOs (Transmission System Operators) in a region which is a critical crossroad of many energy markets”. He added, “The Commission’s consideration and support for the project is based on two advantages inherent in the NETS concept: firstly, it is a concept that linking together EU members with not-, or future-EU members and secondly, that NETS can provide the necessary scale for infrastructure development which will enhance competition and security of supply at the same time”.

  24. 2. Regional cooperation – Update • 2.4. Cooperation of TSOs

  25. 4th IG Meetingon 8 April 2008 in ViennaMoU between TSO Vienna, April 8, 2008

  26. Cooperation of TSO’s • Memorandum of Understanding, draft as of 7 April 2008 • Draft as of 7 April 2008 has been sent out for comments • Next steps: Exchange of comments and finalization • Topics of discussion • Bulletin Board • Investment and new capacity • Product harmonisation • Transparency Platform • Interconnection Agreement, OBA

  27. 3. Standardised bulletin board – Update • Contents used by TAG as best practice

  28. Status of implementation of bulletin boards

  29. Use of bulletin boards • Shippers have made very little use of the bulletin boards so far

  30. 4. Status of conclusion of IPA at Baumgarten • Update to be provided by CEGH/TSOs

  31. ICA (OBA) ERGEG April 8th 2008

  32. Interconnection Agreement (OBA): Contractual structure CEGH System Business IA Multilateral Agreement SPP System OMV Gas System BOG System TAG System SPP System TAG System Technical IA Agreements Bilaterally concluded SPP System BOG System SPP System OMV Gas System

  33. OBA: Contractual structure Sole purpose: Matching platform dealing with the overall nomination management between transportation and trading activities across the systems Business ICP Multilateral Agreement Dealing with all technical issues: balancing account, metering methodologies, operation of metering stations between TSO`s Technical ICP Agreements Bilaterally conclusion

  34. SPP TAG c c c WAG Regulatory Zone Austria Wheeling HAG Wheeling storage HUB central matching station in between Transportation Systems

  35. Beneficial development concerning utilization of interruptible services (liquid hub is beneficial for interruptible services) Efficient operation of nomination management integrating the world of trade; (everybody can transfer gas to 66 counterparts within 2 hours lead time) In case of interruption any shipper can trade gas on a liquid hub within 2 hours lead time full integration of storage quantities into the trading activities (wheeling) and shipping activities (more possibilities for shippers to manage interruptible transportation ) Operational Efficiency

  36. TSOs obtain free membership at CEGH platform TSOs have access to Bulletin Board free of charge (used already twice by TSOs) No fees for shippers! buying or selling at the CEGH No fees for TSOs buying or selling gas at the hub CEGH to be developed as balancing point TSOs and shippers will have access to future stock exchange (spot market) Transparencyis guaranteed by E – Control, Financial authorities (Austrian Financial Markets Supervisory Agency  ) Commercial Efficiency

  37. Tariff scheme: comparison CEGH - Zeebrugge

  38. Interconnection Agreement (OBA): Revised ICA - Concept OMV Gas System SPP System Business IA Common agreement Service provider CEGH System BOG System TAG System SPP System TAG System Technical IA Agreements Bilaterally conclusion SPP System BOG System SPP System OMV Gas System

  39. Future approach If CEGH would be 100% subsidiary of OMV GAS there would be no resistance integrating trade activities Since GAZPROM will be participating in CEGH, there seems to be some reluctance in this respect Shareholders will enter into discussions these days

  40. Thank you for your attention

  41. 5. Implementation of EASEE-gas CBPs in the region • Presentation by EASEE-gas

  42. 6. Infrastructure development • Analysis of infrastructure projects in the region regarding untilization, market integration and consequences on flows on existing transmission pipelines • Nabucco • South Stream • Italy-Greece-Interconnector (Poseidon) • Trans Adriatic Pipeline (TAP) • LNG-Terminal in Krk • GALSI • Projects identified in the Gasification Study • Can TSOs provide this information?

  43. 6. Sample Analysis Nord Stream pipeline

  44. 6. Infrastructure development • Potential WAG expansionand related coordination with adjacent TSOs - Presentation by BOG GmbH

  45. 7. Strategic advisory panel • Purpose: to achieve greater level of stakeholder involvement and commitment • A senior representative of each group of stakeholders (e.g. from TSOs, traders, suppliers, ministries,...) should form part of the panel • Task: the main task of the panel would be to define the strategic topics to be dealt with within the region and to set priorities for future work • Strategic advisory panel has been set up in the NW region(‘Programme Board’) • Suggestion:To create such a panel also in the ERGEG GRI REM SSE

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