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GIE Annual Conference Maintaining and reinforcing security of gas supply in the current complex European context: who is in charge of restoring confidence?. Groningen, 7 th May 2009. Domenico Dispenza President of Eurogas. European gas industry: big changes in a short period of time.
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GIE Annual Conference Maintaining and reinforcing security of gas supply in the current complex European context: who is in charge of restoring confidence? Groningen, 7th May 2009 Domenico Dispenza President of Eurogas
European gas industry: big changes in a short period of time. • Organizations like GIE and Eurogas are needed to represent the needs of “unbundled” stakeholders. • Changes driven not just by regulatory pressure but also by market needs.
Even in an "unbundled world" some degree of cooperation or dialogue between carriers and shippers should be encouraged. • Current challenging investment climate calls for accurate deployment of investments where they are mostly needed. • The example of West to East interconnections after the gas crisis.
Investments are of huge importance for the future of the European gas industry. • Properly deployed investments are essential to preserve the role of natural gas among other primary energy sources.
Investments must be driven by subjects taking binding responsibility for them. • Third Directive partly tackles this issue, but how effectively?
The risk of "clumsy" rules for new investments: • Systems’ inefficiencies. • Overlaps / route redundancy, unnecessary routing competition. • Lack of needed interconnections + new pockets of isolation. • Unbearable increases in logistic costs of gas. • Erosion of principles of regional network integration.
Global economic crisis + January Russia-Ukraine clash and supply disruptions = increased risk for political interference in the European gas industry. • But we are not the banks, needing rescue and ceding managerial control. • Large European gas players were functional in limiting disruptions during the gas crisis and in helping the EU authorities dealing with it. • Hard facts are challenging some of regulators’ assumptions.
A creeping trend in EU quarters to promote projects of a political nature. • Controversial, off-the-mark initiatives. • Who is (or should be) in charge of restoring confidence?
Everyone is in charge and must bear responsibility in its domain. • No need for further confrontation between industry and regulators. • Need for learning from lessons, for open dialogue, for avoiding entrenchment. • Issues to be addressed are serious and need coordinated approach.
