Press release 11 May Interim statement. 1. Customer invoicing. Regulated information: interim statement

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1 Interim statement Information on key events since 1 January 2010 and their impact on the financial situation of the Fluxys Group Customer invoicing: 179 million in the first quarter Investment budget of 420 million for 2010 New transmission tariffs from January 2010 Changes in share ownership: agreement between GDF SUEZ and Publigas o Electrabel sells its entire stake in Fluxys to Publigas o Publigas takes over guarantee with regard to the acquisition of Distrigas & C o Fluxys to take over 5% stake in Interconnector from Electrabel o Fluxys LNG now wholly owned by Fluxys LNG peak storage activity in Zeebrugge to be discontinued 1. Customer invoicing Offtake. In the first quarter of the year, natural gas consumption of industrial companies directly connected to the Fluxys grid was some 14% up on the same period in 2009, and consumption of power stations directly connected to the Fluxys grid was about 46% higher. On 8 January 2010, total natural gas consumption on the Belgian market hit an all-time high of just under 100 million cubic metres, i.e. around 4% more than the previous record set on 6 January New tariffs from January Fluxys and CREG have agreed on new multi-annual tariffs for natural gas transmission and storage. The new tariffs apply to all system users from 1 January 2010 until the end of the current regulatory period (end of 2011) and are amongst the most competitive in Europe. Fluxys and CREG signed a tariff agreement in 2009, thereby bringing an end to a period of uncertainty in that area. On the basis of the agreement, Fluxys submitted a tariff proposal, which was approved by CREG. In January 2010, four system users, including GDF SUEZ, lodged an appeal before the Brussels Court of Appeal against CREG s decision. GDF SUEZ subsequently decided to drop its appeal. As part of the agreement between GDF SUEZ and Publigas of March 2010 (see topic 4), GDF SUEZ has committed itself to drop its appeal. Customer invoicing. The total amount invoiced to customers for all activities amounted to 179 million for the first quarter of 2010, as opposed to 193 million for the same period in This decrease is mainly due to the application of a regulated tariff for all transmission services since 1 January VAT: BE Brussels LPR Page 1 of 5

2 2. Investment budget of 420 million for 2010 Fluxys has earmarked an overall budget of 420 million for projects in 2010, and the first quarter of 2010 saw 100 million of that budget being used for mainly the following projects: Upgrading compressor stations and enhancing compressor capacity ( ). Enhancing the capacity of the underground natural gas storage facility in Loenhout: the objective is to gradually increase workable storage capacity by 15% from 600 to 700 million cubic metres over a period of four years ( ). In addition, utilization flexibility of the facility will rise through enhancing both injection and send-out capacities. In 2010, the workable storage capacity on offer will be increased from 650 million to 675 million cubic metres of natural gas. Completing the Lommel-Ham-Tessenderlo pipeline: works for laying the Lommel-Ham- Tessenderlo pipeline started in November 2009; the pipeline will supply the new GTCC power station on the Tessenderlo Chemie site. Completing the Dilsen-Boslaan pipeline: in late October 2009, Fluxys began laying a pipeline in Dilsen with a view to increasing security of supply in northern Limburg. Starting to lay a second pipeline between Landen and Opwijk: the new pipeline is being built parallel to the existing Zeebrugge/Zelzate Eynatten (RTR1) pipeline. The works on the Landen Opwijk are part of the large-scale RTR2 project to boost transmission capacity on the east-west axis in the Fluxys grid. The project will make a major contribution to enhancing security of supply of natural gas for Belgium as well as North-Western Europe. Connecting two Combined Heat & Power units in the Antwerp region. Preparing construction of an Open Rack Vaporizer (ORV) at the terminal for liquefied natural gas (LNG) in Zeebrugge: Fluxys will start to build the ORV as soon as permitting procedures have been completed. The ORV will draw heat from the seawater to regasify cold LNG and will lead to significant reductions in energy consumption and emissions of carbon dioxide and nitrogen dioxide. 3. Development of commercial services Level of LNG terminalling activity. The first three months of the year saw 13 LNG carriers unloading at the terminal and two LNG carriers making use of the loading services. Four of the ships docking at the terminal were so-called Q-Flex carriers (capacity of up to 217,000 cubic metres of LNG), with the Al Aamriya even docking twice. Level of Hub activity. In the first quarter of 2010, the net volumes traded at Hub Zeebrugge were up 5.5% on the same period in The volumes that were physically delivered even rose by 24%, an increase which is mainly triggered by power stations being directly supplied from the Zeebrugge Hub. Interest in trading on the Zeebrugge Hub remained strong as well, with Huberator signing contracts with six new members in 2010, which brings the current number of Hub members to 82. VAT: BE Brussels LPR Page 2 of 5

3 Peak storage activity in the inner port of Zeebrugge to be discontinued. The market is no longer interested in booking peak LNG storage capacity in the inner port of Zeebrugge, not even in the medium term, because nowadays system users have a wide range of more flexible peak storage capacity services to choose between in North-Western Europe. Therefore peak storage activity on the site will be discontinued by the end of 2010 at the latest. All the staff will keep their employment and will be offered a post elsewhere in the company. In view of the regulatory framework with respect to tariffs, the termination of the peak storage activity will have only a limited impact on results. 4. Agreement between GDF SUEZ and Publigas Changes in share ownership: legal framework. On 8 December 2009, legislation amending the Gas Act was published in the Belgian Official Gazette. Under the changes, suppliers and their affiliated companies are not allowed to hold more than 24.99% of either the capital or shares with voting rights in a transmission infrastructure operator. This new provision therefore required Electrabel to sell at least a proportion of its shares in Fluxys. Electrabel sells its stake in Fluxys to Publigas. Following the change in legislation, Electrabel and Publigas concluded an agreement in March 2010 concerning the sale by Electrabel of its entire 38.5% stake in Fluxys, increasing Publigas s stake in Fluxys to 89.97% and putting an end to the GDF SUEZ Group s ownership of stakes in Fluxys. Fluxys Group to acquire additional 5% stake in Interconnector. As part of the agreement between GDF SUEZ and Publigas, the GDF SUEZ Group s 5% stake in Interconnector (UK) Ltd (IUK) is to be transferred to Fluxys NL once all formalities with the IUK shareholders have been completed. The operation will increase the Fluxys Group's stake in IUK to 15% and in so doing will further consolidate its position on the natural gas transmission market for east-west flows in North- Western Europe. Fluxys LNG now wholly owned by Fluxys. The terms of the agreement between Electrabel and Publigas also required the GDF SUEZ Group to transfer its 6.8% stake in Fluxys LNG to Fluxys. As from 5 May, Fluxys LNG is a wholly owned subsidiary of Fluxys. Publigas takes over guarantee with regard to the acquisition of Distrigas & C border-toborder transmission activities. In 2008, Fluxys purchased Distrigas & C from Distrigas, the former being responsible for marketing border-to-border transmission capacity in the Troll (Zeebrugge Blaregnies) and RTR1 (Zeebrugge Zelzate/Eynatten) pipelines. At the time of this acquisition, the GDF SUEZ Group and Publigas gave Fluxys a guarantee to cover the regulatory uncertainties associated with the valuation of Distrigas & C 's activities. Under the terms of the agreement concluded between Electrabel and Publigas in March 2010, Publigas will take over the whole guarantee of maximum 250 million. VAT: BE Brussels LPR Page 3 of 5

4 The aspects of the agreement relating to Fluxys were approved by the Board of Directors, following a recommendation to this effect by a committee of three independent directors. 5. Verdict in the Ghislenghien case With regard to the Ghislenghien disaster, legal action was taken against Fluxys as a legal entity before the Tournai Correctional Court for involuntary manslaughter and assault due to a lack of foresight or precaution, among other things. Mindful of the human suffering caused by the Ghislenghien disaster, Fluxys laid the emphasis in its defence on the causes of the accident. Having opened its deliberations on the case on 10 November 2009, the Tournai Correctional Court exonerated Fluxys in its verdict of 22 February 2010 and ruled that the company had not committed any offence. The verdict also indicated that the direct cause of the pipeline fracture was the damage brought to the pipeline prior to the accident. The public prosecutor s office has decided to appeal against this verdict in first instance. 6. Prospects 6.1 Investments Fluxys ready for market consultation on transmission capacity from France to Belgium. Fluxys is ready to launch a market consultation to assess the interest of the market for transmission capacity from France to Belgium. In Belgium, the required capacity will be offered through a new interconnection point in the area of Veurne and a new pipeline in the direction of Zeebrugge. The market consultation will be launched as soon as French gas transmission operator GRTgaz and the French regulator have winded up their consultation on the project. To be able to promptly provide the capacity in which the market may be interested, Fluxys already has made preliminary contacts with the municipalities to be crossed by the possible new pipeline. The new French-Belgian connection might contribute to the diversification of sources of supply for North-Western Europe and could trigger a new boost of market liquidity through connecting the Zeebrugge Hub with the North PEG spot market in France (Point d Echange de Gaz Nord). Market consultation on additional transmission capacity to the Grand Duchy of Luxembourg. In June 2009, Fluxys launched a market consultation to gauge demand for additional long-term transmission capacity in the direction of the Grand Duchy of Luxembourg. In late February 2010, Fluxys had received binding capacity requests from interested system users totalling 172,000 cubic metres per hour per year for the period VAT: BE Brussels LPR Page 4 of 5

5 6.2 Prospects for 2010 Bearing in mind the current development of its activities for the financial year underway and barring unforeseen circumstances, Fluxys expects for financial year 2010 to be in a position to pay a dividend which is at least equal to that paid out for financial year In view of the ongoing legal disputes with regard to historical transit contracts, the acquisition value of Distrigas & C and the provisions made in 2008 and 2009 are being retained pending a final ruling on the merits of these cases. CONTACTS Financial data René Sterckx Tel.: Fax: rene.sterckx@fluxys.com Press contact Bérénice Crabs Tel.: Fax: berenice.crabs@fluxys.com Other languages: This press release is also available in French and Dutch on the Fluxys website: VAT: BE Brussels LPR Page 5 of 5