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Domenico Dispenza President of Eurogas

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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Domenico Dispenza President of Eurogas

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  1. 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

  2. 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.

  3. 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.

  4. 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.

  5. Investments must be driven by subjects taking binding responsibility for them. • Third Directive partly tackles this issue, but how effectively?

  6. 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.

  7. 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.

  8. 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?

  9. 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.

  10. Thank you

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