MOL GROUP Annual Report

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The most important events of 2010The construction of the Romanian and Croatian Interconnectorwas successfully completedThe transmission through the interconnectors between theHungarian and Romanian natural gas transmission networksstarted in July 2010. The Hungarian section of the pipeline is47 km long and has a maximum capacity of 4.8 million m3 /day. The total value of the investment was HUF 9 billion. TheHungarian-Croatian interconnector, Városföld–Slobodnicawas also completed. The Hungarian section of the pipeline is205 km with a maximum capacity of 19.2 million m3/day. Costsof the investment in Hungary amounted to HUF 80 billion. Bothpipelines are suitable for bidirectional transmission thereforethe implementation of the interconnectors considerablyimproves the safety of supply as with the completion of theinterconnectors the domestic gas pipeline network may havefour input points in addition to the previous two.During the pipeline construction works completed in 2010,FGSZ paid special attention to the protection of the naturalresources of the area concerned, environment and natureprotection and the improvement of air purity. The companyalso maintained regular contact with the public and socialorganizations during the construction works.OutlookNorth-South Gas Corridor and NETS cooperationThe North-South Gas Corridor is one of the key projects ofthe European Union. Its main objective is to diversify the gasresources of the region between the Baltic Sea and the AdriaticSea and create an integrated gas market. These goals areattainable through the strategic cooperation of the regionalnatural gas supplier companies and the establishment ofcommon directives in terms of energy policy. FGSZ’s ProjectNETS (New European Transmission System) provides a framefor the creation of the North-South Gas Corridor.In order to achieve the aims described above, FGSZ launchedthe preparation works of the construction of the Hungarian-Slovakian interconnector and also conducts further negotiationsregarding the Slovenian interconnector. The former wouldfacilitate the creation of the North-South Gas Corridor whilethe latter would contribute to the possible construction of theHungarian-Slovenian-Italian transmission system.Gas TransmissionFGSZ operates under Independent Transmission Operatormodel (ITO)The publication of Directive 2009/73/EC brought aboutfundamental changes for FGSZ Zrt. In the spirit of enhancingmarket liberalization, this directive established a newcomprehensive framework for natural gas takeover, storageand distribution, including the regulation of the company’soperation. The EU directive was included in the Hungarianlegislation with the appropriate amendments as a resultof which in the future FGSZ operates under a new modelcalled ITO (independent transmission operator). During2010 the Company implemented all the necessary measuresto continue its operation under the new system operationand gas transmission model following the deadline forsubmitting the licence application.Daily Natural Gas & Capacity Market (NFKP) a new specialelectronic trading platform for natural gasPursuant to Act XL of 2008, FGSZ Zrt. provides a new type ofservice for its clients as of 1 July 2010. With the establishmentof the Daily Natural Gas & Capacity Market (NFKP) a specialelectronic trading platform was created where natural gastraders, private users, natural gas producers and other systemoperators – such as natural gas storage operators or distributionsystem operators – can sell and buy natural gas and highpressuregas transmission network capacities. Due to NFKP,market players can plan their daily tasks more effectively andthe risk posed by day-end balancing is also lower therefore theycan provide end users with smoother and more reliable services.NFKP represents an important step towards FGSZ’s long-termobjective which is the establishment of a more competitiveHungarian natural gas market with higher liquidity.Beregdaróc Compressor Staion in Hungary38 MOL Group annual report 2010 39
Gas Transmissionportfolio elementsPolandTransmission plantCompressor stationImport inlet point(data at 15°C)Total performance in 2010Aggregate domestic quantityincluding gas withdrawn from uGSOf which: withdrawnTransit and exportImport quantities for domesticconsumptionat Beregszász pointThrough HAG pipelineFrom domestic productionfrom AustriaMosonmagyaróvár measurementAnnual capacityDaily firm peak capacityHAG pipeline(cubic metres)11.89 billion2.16 billion2.20 billion5.00 billion4.58 billion2.34 billion(cubic metres)4.50 billion12.10 millionTransit (Serbian and Bosnian)(data at 15°C)(cubic metres)Annual capacityDaily peak capacity(data at 15°C)Annual capacityDaily peak capacityRomanian transitDomestic productionTwelve entry pointsAnnual capacityDaily peak capacity4.82 billion13.20 million(cubic metres)1.75 billion4.80 million(cubic metres)2.35 billion9.02 millionSlovakiaDomestic productionStorage for commercial purposesStorage for strategic purposesGas transfer stationGas pipeline Ø _ > 1000 mmGas pipeline Ø _ > 600 mmGas pipeline Ø _ > 300 mmGas pipeline Ø < 300 mmukrainaGas TransmissionTestvériség and Összefogás pipelinefrom the ukraineEntry point at BeregdarócAnnual capacity(cubic metres)21.90 billionMiskolcBeregdarócNemesbikkMosonmagyaróvárDaily peak capacityof the natural gas system(data at 15°C)(cubic metres)Totalof which interruptibleImportsof which interruptibleTransitStorage for commercial purposesof which interruptibleStorage for strategic purposesDomestic production netto173.71 million9.8 million74.40 million2.3 million11.30 million59.00 million7.5 million20.00 million9.02 millionCapacity of underground storages ofcommercial purposesFour entry pointsAnnual capacityDaily peak capacityof which interruptible(cubic metres)5.00 billion59.00 million7.5 millionCapacity of underground storages ofstrategic purposesOne entry pointsAnnual capacityDaily peak capacity(cubic metres)1.20 billion20.00 millionGellénházaPusztaedericsBabócsaCroatiaKápolnásnyékBátaVecsésKarcagKenderesKecskemétVárosföldSzőregZsanaAlgyőKardoskútRomania40 MOL GROUP AnnUAL REPORT 2010 41
Page 1 and 2: MOL GROuP ANNuAL REPORT 2010MOL GRO
Page 4 and 5: Key financial and operating dataKey
Page 6 and 7: Overview of the environmentWorld ec
Page 8 and 9: Exploration and ProductionHIGHLIGHT
Page 10 and 11: OTHER RESuLTSSustainable developmen
Page 12 and 13: upstreaPortfolio EleentsRuSSIASPE 2
Page 14 and 15: ize MOL and INA sales channels in C
Page 16 and 17: PetrochemicalsPetrochemicalsPetroch
Page 18 and 19: Downstream portfolioelementsDomesti
Page 22 and 23: Gas and PowerGas and PowerThe Gas a
Page 24 and 25: Financial and Operational Performan
Page 26 and 27: 1.) We have audited the accompanyin
Page 28 and 29: Moderating growth in world economy,
Page 30 and 31: Higher personal expenses due to ful
Page 32 and 33: Unit OPEX slightly increasedStronge
Page 34 and 35: …and in SPE P1 reserves2010 was t
Page 36 and 37: In Slovakia sales volumes recovered
Page 38 and 39: has been granted an IPPC and a Buil
Page 40 and 41: Refining & MarketingCAPEX down by 5
Page 42 and 43: INDEPENDENT AuDITOR’S REPORTMOL H
Page 44 and 45: Consolidated balance sheet31 Decemb
Page 46 and 47: Consolidated cash flow statement31
Page 48 and 49: Joint venturesA joint venture is a
Page 50 and 51: vi) HedgingFor the purpose of hedge
Page 52 and 53: off. Upon determination of economic
Page 54 and 55: At each balance sheet date, the Com
Page 56 and 57: IAS 1 Presentation of Financial Sta
Page 58 and 59: Exploration costsTransfers from exp
Page 60 and 61: 6 Subsidiaries and jointly controll
Page 62 and 63: The purchase price allocation for t
Page 64 and 65: 10 Investments in associated compan
Page 66 and 67: 15 Other current assets16 Cash and
Page 68 and 69: Changes in the number of ordinary,
Page 70 and 71:
The following table summarises the
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28 Financial (income) / expense30 I
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The Group may use cross currency sw
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Capital managementThe primary objec
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Operating leasesOperating lease lia
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37 Notes to the consolidated statem
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Historical SummaryHistorical Summar
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Gross reserves (according to SPE ru
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Petrochmical production (kt) 2005 2
Page 89 and 90:
InterviewwithGyörgy MosonyiThe str
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Objective Result Fulfillment of the
Page 93 and 94:
effluents. We found that the persis
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The main programme elements are Ext
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Employee engagementWe conduct a Gro
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Ethical notifications received and
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4 Sustainability data (Performance
Page 103 and 104:
5 Notes on Non-Financial Reporting5
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6 Assurance statements6.1 Independe
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CorporateCorporate GovernanceCorpor
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The Board of Directors prepares a f
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The chairman of the Supervisory Boa
Page 113 and 114:
The main role of Financial Risk Man
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7.10.11.8.9.7. Mr. József Molnár
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6. Mr. József Simola (44)Corporate
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7.Mr. József Kohán (59)Member of
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Ownership Structure31.12.2009 31.12
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GlossaryAverage production costTota
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Putting into productionAccomplishme
Page 127 and 128:
Content tableTopic of interestCover
Page 129:
Statementresponsibilityofundersigne
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MOL GROUP Annual Report

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