gas exchanges in spain 5th ig meeting of south gas regional initiative 30th november, 2007
TRANSCRIPT
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GAS EXCHANGES IN SPAIN
5th IG Meeting of South 5th IG Meeting of South Gas Regional InitiativeGas Regional Initiative
30th November, 2007
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2
The context
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GEOGRAPHY & GEOLOGY
• Peninsula SW Europe
• No domestic Production / UGS
• Capacity interconnection
• LNG
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4
INFRASTRUCTURE & DEMAND GROWTH
SANTA CRUZ DE
TENERIFE LAS PALMAS
1º
FERROL
LA CORUÑA
PONTEVEDRA
LUGO
ORENSE
OVIEDO
BILBAOSANTANDER
PAMPLONA
LOGROÑO
BURGOSPALENCIA
VALLADOLID
LEÓN
ZAMORA
AVILA
MADRID
CUENCA
ALBACETECIUDAD REAL
TOLEDO
CÁCERES
BADAJOZ
HUESCA
TERUEL
GERONA
BARCELONA
LERIDA
TARRAGONA
CASTELLÓN
VALENCIA
ALICANTE
MURCIA
ALMERÍAGRANADA
JAÉN
MÁLAGA
CÓRDOBA
CÁDIZ
HUELVASEVILLA
VITORIA
PALMA DE MALLORCA
SINES
(4)
(2)(2)
S. SEBASTIAN
CARTAGENA
3º
3º
(2)
1º
5º
4º 5º
6º
(2)
3º
3º
5º
2º1º
SORIA
(2)
SEGOVIA
ZARAGOZA
3º 4º
7º 8º
4º
3º 4º
SALAMANCA
GUADALAJARA
1º
2º1º
Group C
Group A, B
Regasification Plant
Compression
Station
National Gas Field
Current infrastructure
Extension
Urgent infrastructure
Underground Gas Storage
Infrastructure
Basic Gas Infrastructure
• Territorial expansion
• CCGT & Renewables
• New basic gas infrastructure (Pipelines, LNG Plants, UGS)
• 2001 – 2006: x 1,8
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REGULATORY FRAMEWORK
• Integrated system management
• TPA to all infrastructure
• Flexibility
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LIBERALISATION PROCESSDemand
TWh
0
50
100
150
200
250
300
350
400
2000 2001 2002 2003 2004 2005 2006
450
TPA marketTariff based market
10%38%
55%71%
80%
85%
87%
Demand
TWh
0
50
100
150
200
250
300
350
400
2000 2001 2002 2003 2004 2005 2006
450
0
50
100
150
200
250
300
350
400
2000 2001 2002 2003 2004 2005 2006
450
0
50
100
150
200
250
300
350
400
2000 2001 2002 2003 2004 2005 2006
450
TPA marketTariff based market
10%38%
55%71%
80%
85%
87%
New entrantsIncumbent
2007 (e)0
50
1999 2000 2001 2002 2003 2004 2005 2006
100
150
200
250
300
TWh
33%
66 %
28%
72%
LNG supplies to TPA market
New entrantsIncumbent
2007 (e)0
50
1999 2000 2001 2002 2003 2004 2005 2006
100
150
200
250
300
TWh
33%
66 %
28%
72%
New entrantsNew entrantsIncumbentIncumbent
2007 (e)0
50
1999 2000 2001 2002 2003 2004 2005 2006
100
150
200
250
300
TWh
33%
66 %
28%
72%
LNG supplies to TPA market
•Full eligibility as form 01.01.2003•New TPA market entrants:
> 50% total > 70% LNG supplies
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THE RESULT: GAS EXCHANGES
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EVOLUTION VS. MONTHLY DEMAND
0
10.000
20.000
30.000
40.000
50.000
60.000
GWh
Gas Exchanges Difference monthly demand - Gas exchanges
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GAS EXCHANGES PER INFRAESTRUCTURE
Number of transactions
Underground Storages
2%Transmission network
43%
LNG Terminals 55%
Gas exchanges per infrastructure
Transmission network (GWh)
7%
Underground Storages (GWh)
2%
LNG Terminals (GWh)91%
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GAS EXCHANGES PER SHIPPER
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Volume of gas exchanges Number of exchanges
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MAIN MILESTONES
0
100
200
300
400
500
600
700
800
ago-02
nov-02
feb-03
may-03
ago-03
nov-03
feb-04
may-04
ago-04
nov-04
feb-05
may-05
ago-05
nov-05
feb-06
may-06
ago-06
nov-06
feb-07
may-07
ago-07
Nº
0
10.000
20.000
30.000
40.000
50.000
60.000
GWh
Gas Exchanges Volume of Exchanges
Royal Decree 1434/2002
M.O.ECO 32/2003
M.O.ECO 32/2004
Royal Decree 1716/2004
M.O.ITC103/2005
M.O.ITC103/2005(NGTS)
M.O.ITC 3283/2005
M.O.ITC 4100/2005
M.O.ITC 3996/2006
Resolución3.6.3.
Royal Decree 949/2001
MS- ATR
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THE IT SYSTEM: MS-ATR
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MS-ATR
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MS-ATR: > 25 USERS
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MS-ATR: TRADING
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MS-ATR: IMBALANCES MANAGEMENT
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MS-ATR: BILATERAL EXCHANGES
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NEXT STEPS
Time – Market Maturity
Com
ple
xit
y
BulletinBoards
Capacity Transfer Title
Facility
OTC
Gas Transfer Title Facility
Financial trade
OCM
MultilateraltradeBilateral
trade
Market Clearing Price
Individual bilateral prices