GasTerra’s results for 2008
GasTerra’s turnover for 2008 was € 24.0 billion (2007: € 17.7 billion). This increase of 35% can be attributed to the increase in world energy prices, with the price of oil being the pace-setting factor, along with an increase in the sales volumes.
Gas sales rose from 77.8 billion m³ in 2007 to 84.0 billion m³ in 2008. This rise is a result of increased gas sales on TTF (Title Transfer Facility).
GasTerra’s sales on the home market (including the TTF) amounted to 33.1 billion m³ in 2008 compared to 27.4 billion m³ in 2007. Of this volume 12.2 billion m³ was sold via the TTF exchange. Alongside a few annual contracts with delivery on the TTF, sales with a term of less than one year increased sharply in 2008 compared to previous years. In addition to the over-the-counter (OTC) sales, where deals are concluded via brokers or directly between two parties, GasTerra has become more active on the gas exchanges, including Endex and the APX. GasTerra offers standard products for a period of a day and a week as well as a month, quarter or year or part thereof.
In 2008, GasTerra exported 50.9 billion m³ of natural gas, this is almost the same as 2007 (50.4 billion m³). With a number of foreign energy companies negotiations started concerning extending supply agreements until far in the third decade.
A total of 35.8 billion m³ was purchased from the small fields and 39.2 billion m³ from NAM-Groningen, while 9.1 billion m³came from imports. The greatest proportion of the gas purchased by GasTerra in 2008 came from the Groningen field (around 47%) following many years in which natural gas purchased from the small fields represented the greatest proportion. Because of declining production from the small fields this situation is structural in nature.
It is expected that the turnover for 2009 will decline in combination with slightly decreasing sales. This expectation is based on the decreasing trend in prices on the worldenergymarket.
GasTerra is also active in transitional areas involving the promotion of efficient gas consumption and energy conservation. In 2008, the laboratory tests with the electricity-generating condensing boilers (HEe boilers) made way for extensive practical tests involving around 100 boilers. Preparations have been made for a further roll-out of 500 appliances in the northern Netherlands in 2009.
In addition to its work with the HEe boiler, GasTerra is also actively working on the development of mini-CHP (combined heat and power) systems, which are suitable for application in care institutions, hotels, swimming pools, holiday parks, sports complexes and office buildings.
A series of projects are being conducted on Ameland under the title “Sustainable Ameland”, most of which involve GasTerra. These activities are being used to create an intensive experimental plot, in which all kinds of innovative energy opportunities are tested within the local community as a practical situation. For example tests have begun in a block of apartments on Ameland, involving mixing 20 per cent of natural gas with hydrogen gas.
GasTerra is also promoting the development of the application of green gas. In 2008, 10 projects were selected, which will be implemented in 2009. In Groningen a year-long project has been set in motion (a municipality of Groningen, Arriva Netherlands, GasTerra, the Province of Groningen, the Groningen-Drenthe public transport office, Energy Valley foundation and GCC ), setting up local buses to run on green gas. The buses run more quietly, are cleaner as regards their exhaust fumes and emit less fine dust.
An agreement has also been made with energy company Eneco to the effect that a quantity of green gas will be supplied to its clients as part of the gas contract with GasTerra. In fact GasTerra is hereby reducing deliveries of its own natural gas in favour of such ‘greening’.
Furthermore the “GasTerra Transition Yearprice” was installed in 2008, this stimulates college students to deliver ideas concerning energy transition. With this yearly price an amount of € 100.000 in total is involved.
Every business unit or business operation is considered within GasTerra itself for the potential for introducing sustainable practices. Although an office-based organisation offers limited scope for projects in this area, improvements have been achieved with regard to energy efficiency, paper consumption and climate compensation.
Under the banner of “G50”, in mid-2009, greater focus will be placed on the golden jubilee of the discovery of the underground gas field in Groningen. In 1959, Nederlandse Aardolie Maatschappij (NAM) discovered underground natural gas in Groningen. This jubilee gives us good reason to celebrate, especially as this would give us an opportunity to contemplate the significance of this gas field over the last fifty years, and we could learn useful lessons in terms of the value and role of the quantity of natural gas that will still be present in this field over the next half century. In this context two books under the umbrella name ‘The World of Natural Gas’ entitled respectively ‘Aardgas als transitiebrandstof’ (‘Natural gas as a transitional fuel’) and ‘Warmte en Kracht’ (‘Heat and Power’) have been published and widely distributed in 2008. New books are in the pipeline for 2009, including a history book concerning the meaning and value of natural gas from the middle of last century until far in this century.
GasTerra
GasTerra is an international trading company in natural gas. The company is active on the European energy market and accounts for a substantial share of the Dutch energy supply. The company also offers services that are linked to trade in gas. It has a strong purchasing position and over 45 years of experience.
Contact details:
Ben Warner, tel. +31-50-364 88 10 / +31-6-533 899 43
E-mail: ben.warner@gasterra.nl
Click here for a digital version of the annual report 2008.
Click here for a digital version of the annual social report 2008.
