Medgaz Sonatrach and Endesa sign an LNG Sale agreement ...

Market News
Marketing Activity Newsletter
CO 2
emission
The European Commission releases results for 2005
- The United Kingdom (33 MT)
- Spain ( 19 MT)
- Italy ( 8 MT)
- Ireland (3 MT)
France and Germany have also
registered outstanding results with
amounts exceeding the projected
allowances.
According to some analysts, this
could be explained by some
European governments overallocating
quotas or by an over
estimation of the emissions by
the companies involved in the
process.
Euro/Tonne CO 2
33
28
23
18
13
8
Carbon prices evolution
Following the announcement of
the results, CO2 prices for end
2006 and 2007, have registered
on 12 May 2006 a drastic
decline and stood at 9.43 Euro/t
and 9.83 Euro/t, respectively
compared to 30 Euro/t at the end
of April 2006.
This downward trend has started
earlier further to information
anticipating an excess of allocated
allowances.
Prices for December 2008 contract
(Phase II) have stood firm at
17.43 Euros/t.
02/01/06
09/01/06
16/01/06
23/01/06
30/01/06
06/02/06
13/02/06
20/02/06
27/02/06
06/03/06
13/03/06
20/03/06
27/03/06
03/04/06
10/04/06
17/04/06
24/04/06
01/05/06
08/05/06
15/05/06
22/05/06
29/05/06
Spot Déc-06 (phase 1) Déc-07 (phase 1) Déc-08 (phase 2)
(continued from page 3)
Allowances Emissions
(Ton/year) Stage 1 :
Differences
2005-2007 (2005)
Austria 32.674.905 33.372.841 -697.936
Belgium 59.853.575 55.354.096 4.499.479
Czech Republic 96.907.832 82.453.727 14.454.105
Denmark 31.039.618 26.090.910 4.948.708
Estonia 18.763.471 12.621.824 6.141.647
Finland 44.587.032 33.072.638 11.514.394
France 150.500.685 131.147.905 19.352.780
Germany 495.073.574 473.715.872 21.357.702
Greece 71.135.034 71.033.294 101.740
Hungary 30.236.166 25.714.574 4.521.592
Ireland 19.238.190 22.397.678 -3.159.488
Italy 207.518.860 215.415.641 -7.896.781
Latvia 4.054.431 2.854.424 1.200.007
Lithuania 11.468.181 6.603.869 4.864.312
Netherlands 86.439.031 80.351.292 6.087.739
Portugal 36.898.516 36.413.004 485.512
Slovakia 30.364.848 25.237.739 5.127.109
Slovenia 8.691.990 8.720.550 -28.560
Spain 162.111.391 181.063.141 -18.951.750
Sweden 22.530.831 19.306.761 3.224.070
UK 209.387.854 242.396.039 -33.008.185
Total 1.829.476.015 1.785.337.819 44.138.196
Publication des chiffres
par la CE (12/05/2006)
In brief
• Chile: Endesa to invest
4 billion US $ in four power stations
with a capacity of 2400 MW.
Endesa and Chile's electricity utility
Colbùn have signed an agreement for a
joint development, financing and
operating of the Aysen project covering
the construction of 4 hydro-electric
power stations with an installed
capacity of 2400 MW, , some 1700 km
south of Santiago. The first unit will
start operating in 2012, and the second
unit will come on stream in 2018.
Endesa and Colbùn consider the setting
up of a joint company with shares of 51
and 49 %, respectively.
• China: 15 % increase for
gasoline and diesel prices in
January-May 2006.
The Chinese Government has increased
gasoline and diesel prices by 15 % for
the period January-May 2006. In China,
the retail prices are still regulated,
making the local refiners' situation
difficult. The recent increase
corresponds to a crude price of nearly
55 $/Bbl.
• South Korea/UAE :
Memoranda of Agreement for crude
oil storage. The United Arab Emirates
and South Korea have concluded a
series of agreements by the end of May
of which a Memorandum of Agreement
for the storage of Crude oil. This
agreement will open to the UAE a route
towards the North-East Asian fast
growing market. The Memorandum of
Agreement has been signed between
the North Korean National Oil Company
( KNOC) and Abu Dhabi National Oil
Company( ADNOC).
• Saudi Arabia: gasoline price
reduced by a third
The Saudi government has reduced by
a third the retail price of gasoline and
diesel in order to improve the citizen
standard of living, cut transport costs
and support national agriculture.
• Indonesia : Kerosene exports
stopped
The Company Pertamina has announced
that will cease kerosene imports as of
May 2006, considering the levels of
inventories (41 days consumption) and
its own refineries output able to ensure
the supplies of Indonesia. Imports fell
from 2.4 MBD in September 2005 to 0.6
MBD in 2006.
• Brazil: Golfinho field on
stream
Petrobras has announced the first oil for
the Golfinho field in the Espirito Santo
Basin. With an initial output flow of
15000 B/D of light crude, it will reach a
full capacity of (100.000 b/d) by the end
of 2006.
Market News is a monthly Publication of Sonatrach Marketing Activity
Djenane El Malik - Hydra - Alger -
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