Update on GSE Activities Klaus-Dieter Barbknecht GSE President GIE General Assembly Madrid 21...
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Transcript of Update on GSE Activities Klaus-Dieter Barbknecht GSE President GIE General Assembly Madrid 21...
Update on GSE Activities
Klaus-Dieter Barbknecht GSE President
GIE General Assembly
Madrid21 November 2007
21 November 2007GIE General Assembly- The spoken word shall prevail -
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GIE members agreed on a voluntary basis to publish
storage data
The initiative goes beyond the requirements by the
GGPSSO and Gas Directive
Protection of commercially sensitive information
aggregated form to guarantee that commercially sensitive information is not disclosed
Aggregated gas storage inventory
Provision of information which the market needs to operate
efficiently and effectively
21 November 2007GIE General Assembly- The spoken word shall prevail -
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…preparing a list of storage sites that affect the trading
at European hubs
…reviewing the level of appropriate aggregation
…contributing to the EC Study on natural gas storage
GSE Transparency Work plan
…facilitating the release of both operational information about
the use of storage sites & available capacity for purchase
…reviewing the potential for publication of aggregated inflows and off-takes & gas in store levels
per trading zone
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Gas Storage Inventory: Aggregation by hubs
21 November 2007GIE General Assembly- The spoken word shall prevail -
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GSE Storage Investment database
…is based on publicly available information
The data reflect the most probable expectation at the moment.
The published data shall not be understood as any company’s ultimate commitment to execute the project.
Reviewing & updating every 6 months or by request.
21 November 2007GIE General Assembly- The spoken word shall prevail -
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§ §§
Impact on storage
• …increasing transparency
3rd EU Energy Package
• …making the GGPSSO legally binding
„To make the guidelines legally binding, the Regulation will be extended to define how storage system operators shall offer third party access services, how they shall allocate capacity and manage congestion.“
§GGPSSO§
§
• …tightening the regulatory framework for new investments in the gas infrastructure
• …amending Regulation (EC) 1775/2005 (gas)
21 November 2007GIE General Assembly- The spoken word shall prevail -
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• …proposes legal and functional unbundling for gas storage
• …analyses 4 options for strategic storage:– Impose mandatory strategic stocks on the companies– Improve the existing mechanism– Create regional solidarity mechanisms between Member States– Impose minimum standards on commercial stocks for improving SoS
• …calls for strengthening powers of national regulatory authorities and…
• …enhanced co-operation of EU energy regulators
3rd EU Energy PackageImpact on storage
• …launches a „EU Study on Natural Gas storage“
21 November 2007GIE General Assembly- The spoken word shall prevail -
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…is of the opinionthat binding regulation,
if implemented, must remain within the original scope
of the GGPSSO
…appeals to avoidunnecessary
administrative & regulatoryburdens
…strives for the realization of an optimally functioning, competitive
internal gas market
…is committed to preserve and promote
a clear and stable investment climate
…reaffirms its commitment to the full
implementation of the GGPSSO
…considers the GGPSSO to be a
guarantee for equal treatment of storage users & positive
investment signals
GSE position
21 November 2007GIE General Assembly- The spoken word shall prevail -
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CONGESTION MANAGEMENT
SECONDARY MARKET
INVESTMENT
TRANSPARENCY
Website on weekly storage inventory & movement by traded hubs
Contributing to the EC study on natural gas storage
Publication of storage project data
GSE initiatives
Investment workshop on storage projects in Europe
CONFIDENTIALITY
Creation of effective, non-discriminatory processes
Improvement of secondary market services & tools
Endorse equal treatment of all storage users
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Thank you for your attention!
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Back up
21 November 2007GIE General Assembly- The spoken word shall prevail -
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GSE Storage Investment database (2)
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Implementation of GGPSSO
Implementation of GGPSSO
2nd Deadline for the implementation
of the GGPSSO
2nd Deadline for the implementation
of the GGPSSO
2005 ERGEG monitoring report
on GGPSSO implementation
2005 ERGEG monitoring report
on GGPSSO implementation
2nd ERGEG Monitoring:Questionnaires to
SSO, storage users, NRA
2nd ERGEG Monitoring:Questionnaires to
SSO, storage users, NRA
ERGEG 2006 final monitoring report on the
implementationof the GGPSSO
ERGEG 2006 final monitoring report on the
implementationof the GGPSSO
Madrid Joint Working
Group
Madrid Joint Working
Group
13th Madrid Forum
13th Madrid Forum
2 0 0 5
2 0 0 6
2 0 0 7
1st Apr
Dec
Feb
Oct
Sep
Dec
NovApr
Feb/Mar
12th Madrid Forum
12th Madrid Forum
3rd Energy Package by the European
Commission
3rd Energy Package by the European
Commission
GGPSSO - Monitoring
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Voluntary guidelines or binding legislation?
recommendation to the European Commission:binding legislation for access to storage
Regulation of storage
Presentation of the 2006 final ERGEG Monitoring report on the implementation of the GGPSSO
3rd Energy Package19th September 2007
continuingvoluntary
Implementation at risk?
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Storage volumes – present
Source: IGU 2006
The overall working gas volume in the EU is at ~80 bcm.
Storage volumes
need to be expanded by 60 bcm until 2025!
21 November 2007GIE General Assembly- The spoken word shall prevail -
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Storage projects – GSE investment database –
30 bcm additional working gas capacity until 2015 (+40% with respect to present capacity)
more than 60% of new capacity in countries from where derive 80% of EU-27 gas
demand
more than 70% of new capacity deriving from new storage facilities
Three digits percentage increases in:
Spain: substantial increase in gas demand and total dependency on imports
UK: shift in supply patterns, trading opportunities
Bulgaria: increasing role for Russian transit gas
Austria: commercial developments for bordering countries (e.g. Germany)
GSE commitments: continue working with all stakeholders to fostering a “proper” investment climate for
making all projects real and available for market needs on time Publication of a European storage investment database on the GIE web site to
provide a synthetic and updated status on projects (based on public information)