GDF SUEZ Infrastructures Business Line. Yves Colliou

Transcription

1 GDF SUEZ Infrastructures Business Line Yves Colliou

2 Key business figures * European leader in natural gas infrastructures 1 st natural gas transmission network 1 st gas distribution network 2 nd largest storage capacity 2 nd largest LNG terminal receiving capacity 31,717 km transmission network in France; 47 shippers 5,100 km transmission network in Europe with stakes in several transmission operators in Europe (Belgium, Germany and Austria) 185,839 km distribution network in France; 17 suppliers 9,202 connected municipalities and 11 million clients 9.7 bcm of storage capacity in France with 12 sites; 22 shippers 1 bcm additional storage capacity through european subsidiaries (Belgium, Germany) 17 bcm regasification capacity in 2 LNG terminals in France (Montoir, Fos Tonkin) Third terminal in France will be operational in June 2009 with 8.25 bcm capacity (Fos Cavaou) Stake in Zeebrugge terminal in Belgium with expansion to 9 bcm in % stake in Elia, electricity transportation network in Belgium 16,500 employees * Data at end 2007 Investor Day GDF SUEZ November 26,

3 Key financial figures Strong and recurring profits In m Proforma unaudited data, Fluxys and Elia not included 2007 H Revenues (contribution to Group) Business line revenues (inc. intragroup transaction) 743 5, ,842 EBITDA 2,836 1,541 Current operating income 1,795 1,047 Capex 1, Maintenance Capex Development and financial Capex Investor Day GDF SUEZ November 26,

4 Key financial figures Balanced portfolio of activities In bn 2007 EBITDA Breakdown LNG terminal Storage Transmission 2.8 Distribution in France Investor Day GDF SUEZ November 26,

5 Main assets Key positions at the heart of Europe Four types of assets, mainly regulated Investor Day GDF SUEZ November 26,

6 Main assets Organization structured around strong business competences Governance designed to keep on with European independence criteria Business Units Transmission Distribution LNG Terminal Storage French Assets 100 % owned subsidiary, created on Jan. 1 st % owned subsidiary, created on Jan. 1 st 2008 Subsidiary to be created on Jan. 1 st 2009 Subsidiary to be created on Jan. 1 st 2009 European Assets Fluxys in Belgium Megal in Germany BOG in Austria Zeebrugge Terminal Storage in Germany Storage in UK Investor Day GDF SUEZ November 26,

7 Regulation in France Independent regulator Commission de Régulation de l Energie (CRE), dealing with natural gas and electricity Stabilized framework with incentives Longer regulation period: 4 years Regulation type: Price cap mechanism «RPI X%*» Special incentives for transmission investments Regularization account for uncontrollable events (climate, fuel costs ) Key discussions are behind us for transmission and distribution New tariff in place for Distribution since July 1 st 2008 New tariff decided for Transmission; to be put in place as of January 1 st 2009 Tariff under negotiation for terminals, also aiming at a stable framework with incentives ans especially seeking for a long term visibility (20 years) * The tariff for the access to the infrastructures changes every year with the inflation corrected with an efficiency factor Investor Day GDF SUEZ November 26,

8 Regulation and asset bases in France Regulation period 2007 Capex (in m) H Capex (in m) Regulated Asset Base remuneration (real pre-tax) Regulated Asset Base (in m) at end 2007 Tariff Type Distribution July 1 st, 2008 July 1 st, % 13,174 Tariff N+1: RPI 1.3 % Transmission Jan. 1 st, 2009 Jan. 1 st, % + incentives up to 300 basis points over 10 years 5,572 OPEX N+1: RPI % (+ 2.1 % capacity ; -1 % efficiency) LNG Terminals Tariff project in progress % and 10.5 % 363 TOTAL 1, ,109 Investor Day GDF SUEZ November 26,

9 Strategic road map Strong growth for the future Targets and ambitions Develop infrastructures in order to cope with Europe s natural gas market growth Improve efficiency Best in class for security and reliability Invest between 1.5bn and 2.0bn per year over the next 10 years Drivers for growth Growth, which will involve developing complex industrial facilities that must be made to fit into their environment Enhance efficiency: share best practices, best information systems, best technologies as well as best human resources All-round safety, with aim of achieving excellence Investor Day GDF SUEZ November 26,

10 Key objectives Transmission in France and Germany Promote new commercial offers Use it or Lose it offers, new balancing system, direct trading on PEG* Invest to answer natural gas market growth Connecting new CCGT and new LNG terminals Invest to answer needs for smoother exchanges Grid optimization, reduction of balancing zones Work to harmonize rules to foster natural gas cross-border trade Optimizing grid interconnection when the ratio demand / remuneration is favorable * Gas exchange points Increase capacity by +15 % from 2008 to Capex: ~ 1.7bn Capex breakdown: 45% maintenance / 55% development Investor Day GDF SUEZ November 26,

11 Key objectives Distribution in France Promote access to natural gas in France and boost market growth Guarantee network security and reliability Work closely with Local Communities Modernize network and connect new clients Capex: ~ 2.1bn Capex breakdown: 70% maintenance / 30% development Investor Day GDF SUEZ November 26,

12 Key objectives LNG Terminals Commissioning Fos Cavaou terminal 8.25 bcm new capacity Renovate Montoir terminal to extend activities lifetime Provide expertise for terminalling activities in GDF SUEZ Actively participate in GDF SUEZ regasification projects to reach a worldwide capacity of 44 bcm in 2013 Guarantee a capacity of 33 bcm in Belgium and France Capex: ~ 0.3bn Capex breakdown: 30% maintenance / 70% development Investor Day GDF SUEZ November 26,

13 Key objectives Storage in France, UK and Germany Increase capacity Expand in Europe throughout existing positions Germany UK Develop new commercial offers Germany + 3 bcm storage capacity from 2008 to Capex: ~ 1.4bn Capex breakdown: 40% maintenance / 60% development Investor Day GDF SUEZ November 26,

14 Capex plan In bn Capex Capex Breakdown Development Maintenance LNG terminal Transmission Storage Distribution in France Investor Day GDF SUEZ November 26,

15 RAB evolution In bn RAB for Transmission in France RAB for Distribution in France % % End 2007 End 2010 End 2007 End 2010 Investor Day GDF SUEZ November 26,

16 Quality and monitoring indicators* Availability of the compression Optimization and follow up on maintenance timing (available capacity during the maintenance, ) Quality of the interventions Availability of IT systems (portals, ) Quality of smart metering (at the delivery points for the customers connected to the transport network, ) Relationship with the shippers (time needed to treat the requests, ) Respect of the environment (CO 2 emission, ) Respect of the security standards Satisfaction surveys Follow up on purchase and performance plans * Some are part of the tariffs Investor Day GDF SUEZ November 26,

17 Performance programs which integrate the incentive objectives of the regulation Distribution in France Transmission in France Opex* in real 2008 Regulated revenues Capex in nominal Proposed capacity ATRT4 0,44 0,17 0,43 0,15 0,42 0,13 0,41 0,11 0,40 0,09 0, , Opex Savings of 2.3% per year Productivity improvement including specific developments * Opex without technical losses and management fees ( real) Investor Day GDF SUEZ November 26,

18 Conclusion Support and foster market liberalization in France and Europe Ensure flexible and secure supply for European gas customers Develop new offers and services for infrastructure customers Investor Day GDF SUEZ November 26,