Topic of the month:
Gazprom Export versus Gazprom Germania
Gazprom Export versus Gazprom Germania
Since the March issue, the topic of the month has been selfevident: German/European-Russian gas relations. Every month there are new developments that are of great importance for German and European gas supply. The problem is that this significance and the exact effects are often only partially apparent. This holds especially true for the whole issue of relations between Gazprom Export, Gazprom Germania (GPG) and now also the German government, or rather the BNetzA as trustee. In the last issue, I reported in detail on the bizarre developments and in this issue there is the follow-up. The Russian side has reacted to the order to hold GPG in trust and has issued a decree prohibiting Gazprom Export from doing business with the vast majority of companies of the GPG group. This raises more questions than it answers. In this month's issue, I try to find answers, although a not inconsiderable part of them are speculative. Read yourself.
In May, it became clear what storage reserves cost when the state demands them. Austria paid close to a billion euros for a strategic reserve of seven TWh working gas volume. In Germany, the first tender for Strategic Storage-Based Options costs 370 million euros. However, the two products are not comparable. In view of the current market situation, both procedures could probably have been dispensed. There are considerable incentives to inject gas into storages. The companies' options for action are restricted solely by the limited possibilities to finance this. In view of prices, volatilities and market risks, financing working capital has become a real bottleneck.
With regard to the making of this publication: it is often a work in progress. At the beginning of May, I spoke for the first time at the Flame (which was quite exciting overall, by the way) about the difficulty of integrating the Haidach storage facility into supply security concepts. During the month, further talks took place and there were publicly available developments. I have left the topic in the Market Rumours section, even though the share of rumours decreased over the month.
Finally: I have been involved with the German gas market since the end of 1996. Nevertheless, I have consistently reported on the "Rheden" storage facility in this publication. However, that storage facility does not exist, but the "Rehden" storage facility does. And that is how it shall be in the future.
By the way: As a subscriber of energate Gasmarkt, an e-paper version is also available to you in addition to the print and PDF versions. At online.energate-gasmarkt.de you can access the digital issues and read them easily on your desktop PC or tablet. Browse through older issues in the extensive archive and use the full text search to research all available publications. Simply log in with your email address and start reading! If you do not have your password at hand, please click here.
TOPIC OF THE MONTH Gazprom Export versus Gazprom Germania
The next twist of the escalation spiral in German-Russian gas relations took place on 11 May, when a decree issued by Russian President Vladimir Putin on 3 May was made public. Russian organisations and companies were banned from doing business with 31 individually listed companies. 30 companies belong to the Gazprom Germania Group (GPG) – including the holding company itself. The only non-member of the GPG group on the list is Europol, the operator of the Polish section of the Yamal-North. Europol is a joint venture between the Polish state-owned gas company PGNiG (52 per cent) and Gazprom (48 per cent). There will be more about this later.
Also affected by the countersanctions are Wingas, Wintershall Erdgashandelshaus (WIEH) and astora. The only significant GPG company missing on the list was WIGA Transport Beteiligungs GmbH (WIGA). Gazprom Germania and Wintershall DEA each have a 50 per cent share in WIGA. The joint venture holds the stakes in the transmission system operators Gascade, OPAL Gastransport and NEL Gastransport…
Frequently asked questions
What is the energate Gasmarkt?
The energate Gasmarkt provides specialists and executives in the gas industry with up-to-date information and background information on the German and international gas market. The medium expertly explains the most important developments in the fields of market, law, politics and business. In addition, the energate Gasmarkt offers insider information such as market rumors and personal details.
What is the energate Jahresreport Gas?
The energate Jahresreport Gas traces the most important market developments of the year and provides a well-founded outlook for the coming months. Gas expert and insider Dr. Heiko Lohmann analyzes relevant events in politics, law and regulation as well as on generation, infrastructure and trade. In addition, the report provides information on changes in the corporate landscape and tracks price developments in market reports. Top decision-makers from the industry use the Jahresreport Gas as a compact chronicle of the year and to assess future market developments.
How often are these publications released and in which formats are they available?
The energate Gasmarkt is published monthly. Subscribers will receive the energate Gasmarkt as a print and PDF version in German and English. The Jahresreport Gas is published annually (beginning of December).
Can I purchase individual issues of the energate Gasmarkt?
Yes, you can purchase individual isses as print or PDF version. Payment options include purchase on account, credit card or PayPal.
How much is a subscription of the energate Gasmarkt and how much does the Jahresreport cost?
A subscription to the energate Gasmarkt (single licence) costs 110,- Euro/month (plus VAT). An edition of the Jahresreport Gas costs regularly 390,- euro (plus VAT).
Are there any special conditions if several employees in a company would like to receive the Gasmarkt?
With several Gasmarkt recipients in one company, the price of the second and all other licenses is reduced significantly. We are happy to make you a fair offer for team or corporate licenses!
What benefits do I get by registering?
A free energate account is required to order the energate Gasmarkt or the energate Jahresreport Gas. Registered users receive an overview of the contents of the current issue of energate Gasmarkt by e-mail on the day of publication.
I would like to read energate Gasmarkt or energate Jahresreport Gas digitally. Where can I find my e-paper version?
As a subscriber to energate Gasmarkt or as a purchaser of energate Jahresreport Gas, you will also receive an e-paper version in addition to the print edition. You can find it at online.energate-gasmarkt.de. Please use your energate account to log in.