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MS-ATR
SECONDARY MARKET FOR GAS EXCHANGES I N SPAI N
FRANCISCO P. DE LA FLOR Madrid, 2 3 th July 2 0 0 8
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MS-ATR SECONDARY MARKET FOR GAS EXCHANGES I N SPAI N Madrid, 2 3 th - - PowerPoint PPT Presentation
MS-ATR SECONDARY MARKET FOR GAS EXCHANGES I N SPAI N Madrid, 2 3 th - - PowerPoint PPT Presentation
MS-ATR SECONDARY MARKET FOR GAS EXCHANGES I N SPAI N Madrid, 2 3 th July 2 0 0 8 FRANCISCO P. DE LA FLOR 1 . The Context 3 . The Results 2 . The I T Tool 2 Index THE CONTEXT 3 The Spanish Gas Industry 1 . A peripheral country in the
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THE CONTEXT
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1 .
A peripheral country in the European landscape.
2 .
Lack of cross-border capacity w ith continental Europe.
The Spanish Gas Industry
3 .
Very high natural gas dem and grow th.
4 .
Strong need to develop new infrastructures.
5 .
Alm ost com plete dependency on im ports.
6 .
Special im portance of LNG ( 7 0 % total gas im ports) .
7 .
Different dem and pattern com pared to the other MS, w ith higher proportion of industrial and electrical dem and ( CCGTs) and low er seasonal variation.
8 .
r-TPA to all basic gas infrastructures ( HP pipelines + LNG + UGS)
9 .
I nfrastructure Code & SL-ATR.
1 0 . Liberalisation & No barriers to new entrants.
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THE CONTEXT THE CONTEXT
ANNEX
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Cross-border Interconections with EU countries
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Natural Gas Demand & Forecast to 2016
100 200 300 400 500 600 700 1 9 8 9 1 9 9 1 1 9 9 3 1 9 9 5 1 9 9 7 1 9 9 9 2 1 2 3 2 5 2 7 2 9 2 1 1 2 1 3 2 1 5
TWh
Residential + Industrial CCGT Residential + Industrial current CCGT current
x 10,2
2006-2016: System Technical Manager Scenario ( 5% CAGR)
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Mandatory Planning to 2016
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Supply Diversification 2 0 0 7
NG
3 1 % 6 9 %
LNG 2 0 0 7 Supplies 4 1 0 TW h
Egypt 11% Norway 6% Domestic Production
< 1%
Nigeria 24% Oman 1% Algeria LNG 12% Algeria NG 25% Qatar 12% T&T 6% Libya 2% Otros 1%
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LNG supplies to the LNG Market
2 0 0 7 50 1 9 9 9 2 0 0 0 2 0 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 100 150 200 250 300
TWh
28% 72% 2 0 0 8 ( e) 74% 26%
Incumbent New entrants
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CCGTS IN SPAIN
CCGT (400 MW unit or equivalent) Conventional Power Station CCGT in testing phase Current 21.000 MW Future (2016) * 34.000 MW I nstalled Capacity
( * ) I ncluding 3 0 0 0 MW e of Open Gas Turbines
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NGTS & SL - ATR
NGTS: I nfrastructure Code ( Netw ork + UGS + LNG term inal code) SL-ATR: I T logystic system for I nfrastructure users
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Active Shippers in Spain
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THE I T TOOL
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Main features
- MS-ATR w as im plem ented at late 2 0 0 5 in order to
- rganize the huge num ber of gas exchanges.
- Developed on a w eb system basis as a part of the TPA
I T System ( SL-ATR) .
- Transactions could be m anaged w ithin gas day m arket,
ensuring transparency, security and confidentiality.
- Several activities and functions:
Bilateral exchanges I m balance m anagem ent Trading ( bids & offers)
- Bids and offers should be order in term s of volum e and
price for every infrastructure.
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MS-ATR
- Shippers having access to MS-ATR trading platform are able to choose the
infrastructure w here they w ant to trade gas and to accept or refuse offers from
- ther users.
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MS-ATR: > 30 USERS
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MS-ATR: BILATERAL EXCHANGES
MS-ATR allow s to organize the OTC bilateral exchanges
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MS-ATR: IMBALANCES MANAGEMENT
MS-ATR allow s GTS to receive offers to m anage the im balances.
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MS-ATR: TRADING
MS-ATR allow s the negotiation of gas prices betw een users, on
anonym ous basis.
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MS-ATR: VESSELS
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THE RESULTS
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EVOLUTION VS. MONTHLY DEMAND
10.000 20.000 30.000 40.000 50.000 60.000
a g
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n
- v
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f e b
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m a y
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a g
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n
- v
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f e b
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m a y
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a g
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n
- v
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f e b
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m a y
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a g
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n
- v
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f e b
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m a y
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a g
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n
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f e b
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m a y
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a g
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n
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f e b
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m a y
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GWh
Gas exchanges Difference monthly demand - Gas exchanges Difference Gas exchanges - monthly demand
MS- ATR
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GAS EXCHANGES PER INFRAESTRUCTURE
Gas exchanges per infrastructure Num ber of transactions
Transm ission netw ork ( GW h) 7 % Underground storages ( GW h) 2 % LNG Term inals ( GW h) 9 1 % Transm ission netw ork 4 3 % Underground storages 2 % LNG Term inals 5 5 %
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NON-DOMINANT PLAYER
0% 20% 40% 60% 80% 100%
Volume of gas exchanges Number of exchanges
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Disclaimer
This document may contain market
- assumptions. different
sourced information and forward-looking statements with respect to the financial
- condition. results of operations. business. strategy and the plans of Enagas
- SA. Such statements are based on a number of assumptions that could
ultimately prove inaccurate. and are subject to a number of risk factors. including the ability to realize cost reductions and operating efficiencies without unduly disrupting business operations. environmental. regulatory considerations and general economic and business conditions. Enagas does not assume any obligation to update publicly any forward- looking statements. whether as a result of new information. future events or
- therwise. Further information on factors which could affect the company's
financial results is provided in documents filed by the company with the CNMV. Any data contained herein for periods 2000 and earlier was prepared by using historical proforma results. Proforma financial data is unaudited and calculated applying company's accounting principles.
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ENAGÁS, S.A.
Director of Regulation
fpflor@enagas.es
Tel: +34 91 709 93 10 www.enagas.es