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Annual report 2013

Language:
  • Nederlands
  • Engels

Participations & Business Development’s activities are – like the activities of GTS and Gasunie Deutschland – capital intensive and relate mainly to gas infrastructure.

The main activities have been allocated to separate participations, which often cooperate with external partners. These include, amongst others, the LNG terminal in Rotterdam (Gate), the pipeline to England (BBL), Nord Stream and the underground gas storage facility Zuidwending.

The operating risks and profitability targets of these activities are higher than those of fully regulated activities, because the participations compete in the free market.

Investments

The construction of new infrastructure does not start until we have signed commercial sales contracts for a sufficiently long period. These contracts form the basis for the earning capacity of the participations. We try to further improve the return on these activities by means of additional contracts.

Revenue flow

Customers buy capacity and thereby also the right to utilise the infrastructure during the contracted period.

For these participations, we also apply the ‘open-access infrastructure’ policy: as an independent party, we provide services to our customers in a non-discriminatory and transparent way. We construct and operate infrastructure, but we do not participate in activities in the field of the upstream supply, trade and downstream delivery of gas or LNG. In this way, we can, with our participations, facilitate a well-functioning gas market and gas trade.

The LNG terminal in Rotterdam (Gate), the pipeline to England (BBL) and the underground gas storage facility (Zuidwending) all have to deal with legal regulatory frameworks and regulators. For instance, we need prior consent for providing services outside the regulatory frameworks through our participations. Usually, a term is agreed on during which such an exemption from regulation for certain aspects is allowed. After this period, we will carry out part of our services within regulated frameworks. European legislation to facilitate a well-functioning European gas market therefore affects the business model of Participations & Business Development.

Participations & Business Development is looking for opportunities to develop new, profitable activities. These should be activities that contribute to Gasunie’s strategy of supporting the functioning of the gas market and realising the transition towards a sustainable energy system.