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National Energy Security Fund
Diversification against Capitalism
Konstantin Simonov
Sofia October 15 2015
Is it thrush?
National Energy Security Fund
Diversification against Capitalism Konstantin Simonov Sofia - - PowerPoint PPT Presentation
Diversification against Capitalism Konstantin Simonov Sofia - - PowerPoint PPT Presentation
National Energy Security Fund Diversification against Capitalism Konstantin Simonov Sofia October 15 2015 Is it thrush? National Energy Security Fund The results of four years investigation of the European Commission It is not Gazprom
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The results of four years investigation of the European Commission
- It is not Gazprom that is to blame for the fact that
some countries on account of their geography, history, and economic and political decisions have an alternative to Russian gas and others have not. Gazprom did not and could not prevent anyone from building their own interconnectors, underground storage facilities, LNG terminals, and other infrastructure
- The charges concerning preventing cross-border
flows of gas sound even more ridiculous. How it is possible in Bulgaria? If you have no alternative supplier – it is not guilt of Gazprom
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How is responsible for prices?
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100 200 300 400 500 600 700 800 900 Romania Hungary Denmark Croatia Turkey Latvia Estonia Bulgaria Poland Serbia Lithuania Slovakia Luxembourg Czech Republic Slovenia Netherlands Belgium Germany Austria United Kingdom Ireland Sweden Italy France Greece Liechtenstein Spain Portugal Gazprom price*
* - Gazprom’s Average Price of Gas Deliveries to EU+Turkey without Baltic in 2014 Source: Eurostat, NESF calculations Gas Prices for Households excl. of Tax in European Countries (H2 2014, €/’000 Cubic Metres)
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How is responsible for prices?
National Energy Security Fund
200 400 600 800 1000 1200 1400 Romania Hungary Turkey Serbia Bulgaria Croatia Latvia Estonia Lithuania Poland Luxembourg Slovakia Czech Republic Slovenia United Kingdom Belgium Germany Austria Ireland France Greece Netherlands Liechtenstein Denmark Italy Spain Portugal Sweden Gazprom price*
* - Gazprom’s Average Price of Gas Deliveries to EU+Turkey without Baltic in 2014 Source: Eurostat, NESF calculations
Gas Prices for Households incl. of Tax in European Countries (H2 2014, €/’000 Cubic Metres)
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National Energy Security Fund
Transit Prize
Planned distribution of South Stream gas, bcm per year
14 2,5 3 7 2 32 2,5 Turkey Bulgaria Greece Hungary Serbia Baumgarten* Others
* Italy and Austria
Source: Gazprom, NESF calculations
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Money is nothing?
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40 million Euros now and 600 million Euros in future ANNAULLY
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You do not want to earn money?
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Okay, Germany will do it!
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Policy of neighbors
Turkey gas import in 2010-2014, bcm
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10 20 30 40 50 60 2010 2011 2012 2013 2014 LNG Iran Azerbaijan Russia
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Still no alternative
- Supply of Russian gas to Europe (net of direct sales to the
Baltic states and Finland as well as supply to Turkey) in August 2015 increased by 28% compared with the same month of last
- year. The supply of Russian gas to Europe during 9 months of
2015 was 92 bcm compared with 90 bcm last year.
- In most European countries there is a very significant lag in
terms of pumping gas into under ground storage facilities (USF). For example, in Germany at the end of August reserves were 4.7 billion cubic metres or 24% lower than last year. They are just 67% full versus 90% on 1 September 2014. In countries in Southeast Europe (Austria, the Czech Republic, Slovakia, and Hungary), reserves are 3.3 billion cubic metres (25%) lower than last year
National Energy Security Fund
SLIDE 12
National Energy Security Fund