Endesa (NYSE:ELE)
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ENDESA:
-- On Monday, ENDESA's CEO met with Alexander Medvedev, Vice
Chairman of Gazprom's Executive Committee, and Anatoly
Chubais, who is both Chairman of CIS-EPC (Commonwealth of
Independent States - Electric Power Council) and Chairman of
RAO-UES (Russia's leading electricity company).
-- ENDESA estimates that its gas supply needs will reach 15
bcm/year in the next five years.
-- The search for new gas sources is included in ENDESA's
ambitious New Capacity Plan which aims to bring 11 new CCGTs
on line in Europe by 2009.
ENDESA's (NYSE:ELE) CEO, Rafael Miranda, travelled to Moscow where
he held various meetings with senior representatives of the Russian
energy sector.
On the morning of Monday 18 September, Mr. Miranda met with
Alexander Medvedev, Vice Chairman of Gazprom's Executive Committee in
order to explore joint opportunities for both companies in the gas and
electricity businesses where both companies operate. In particular,
ENDESA is seeking to diversify its medium-term gas supply requirements
in its European markets (Spain, Portugal, Italy and France), which
stand to reach 15 bcm/year over the next five years.
Rafael Miranda, in his capacity as Chairman of Eurelectric, also
met with Anatoly Chubais who is both Chairman of CIS-EPC (Commonwealth
of Independent States - Electric Power Council) and Chairman of
RAO-UES (Russia's leading electricity company) to discuss matters
concerning the integration of electricity systems, deregulation in the
European markets and the deregulation and privatisation of the Russian
electricity sector.
The search for new gas sources forms part of ENDESA's ambitious
New Capacity Plan under which 11 new CCGTs will be brought on line in
Europe by 2009 (eight in Spain and three in the rest of Europe), which
would more than double total CCGT installed capacity.
This investment in CCGTs will strengthen ENDESA's position in the
gas sector and see the Company's consumption in Europe rise from the
current figure of 10 bcm/year to 15 bcm/year in 2009: 9 bcm at
ENDESA's plants in Spain and Portugal and the remaining 6 bcm at the
other European plants.
* This document may contain certain forward-looking statements
regarding anticipated financial and operating results and statistics
that are subject to risks and uncertainties as well as to material
risks, changes and other factors which may be difficult to predict,
including, without limitation, those factors described in the
Documento de Registro de Acciones of Endesa filed within the Comision
Nacional del Mercado de Valores and in the Form 20-F of Endesa filed
within the Securities and Exchange Commission, both for the fiscal
year ended December 31, 2005. For all of these forward-looking
statements, we claim the protection of the safe harbour for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.