Annual Report 2010 311 - Verbundnetz Gas AG
Annual Report 2010 311 - Verbundnetz Gas AG
Annual Report 2010 311 - Verbundnetz Gas AG
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Annual</strong> <strong>Report</strong> | <strong>Annual</strong> <strong>Report</strong> <strong>2010</strong><br />
the virtual trading hubs in Germany. There are<br />
also plans to introduce the trading of biomethane<br />
via certificates on the online platform www.bioerdgashandel.de<br />
in 2011. The biomethane trading<br />
certificates will be generated under the German<br />
biogas register.<br />
<strong>Gas</strong> sales, other countries<br />
Italy<br />
Despite the interruption in the transit pipeline<br />
through Switzerland, one of the main natural gas<br />
supply routes to Italy, since the middle of <strong>2010</strong>,<br />
VNG’s deliveries to customers in Italy continued to<br />
grow. In total, VNG <strong>AG</strong> sold approximately 6.4 billion<br />
kWh to Italian customers, a year-on-year rise<br />
of 12 per cent.<br />
Market position in neighbouring European countries<br />
expanded. At approximately 28 billion kWh,<br />
gas sales to other countries constitute a solid<br />
component of VNG <strong>AG</strong>’s sales activities. The percentage<br />
share of gas sales to other countries in<br />
total sales reached double digits for the first time<br />
in 2009 (11 per cent), and was extended further<br />
(13 per cent) in the <strong>2010</strong> financial year. Poland<br />
and Italy remained the main sales areas outside<br />
of the German gas market in <strong>2010</strong>.<br />
France<br />
In France, VNG successfully applied for a licence to<br />
deliver natural gas to non-residential customers<br />
where there is a public service obligation, thereby<br />
further diversifying the sales portfolio. VNG<br />
opened a liaison office in Paris in October <strong>2010</strong> to<br />
gain an even greater insight into the market and<br />
to represent the company’s interests in France.<br />
Poland<br />
Switzerland<br />
Poland’s significance for sales to other countries<br />
is undiminished. Deliveries in <strong>2010</strong> ran at approximately<br />
10 billion kWh.<br />
Czech Republic<br />
Business relations with the Swiss gas industry<br />
were also intensified. VNG expanded its trading<br />
activities with spot and futures products in<br />
<strong>2010</strong> via its shareholding in SET Swiss Energy<br />
Trading <strong>AG</strong>.<br />
The VNG Group has created a favourable framework<br />
for the efficient expansion of its sales activities<br />
on the Czech market through the merger<br />
of Energie Bohemia a.s. and VNG Energie Czech<br />
a.s. The activities of the VNG Group in the Czech<br />
Republic developed well in <strong>2010</strong>. For the first<br />
time, natural gas sales exceeded 1 billion kWh/a.<br />
Luxembourg<br />
Deliveries under a long-term contract to deliver<br />
natural gas to the Luxembourg-based supplier<br />
Enovos Luxemburg S.A. began in the <strong>2010</strong> financial<br />
year.<br />
Slovakia<br />
VNG commenced natural gas deliveries to Slovakia<br />
in 2009, and sales were further expanded<br />
in the <strong>2010</strong> financial year through deliveries to<br />
several customers.<br />
More short-term trading. There was a substantial<br />
increase in the importance of spot and futures<br />
trading on Europe’s natural gas wholesale markets<br />
in <strong>2010</strong> as a result of oversupply on European<br />
gas markets combined with a further rise in<br />
liquidity at the virtual trading hubs. Other reasons<br />
included a more active portfolio management on<br />
17
Change language