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[grupo guitarlumber] 06/3/2012 09:18

Bourse le 05/03/2012 12h17
GDF Suez : Berenberg débute le suivi

De sources de marchés, Berenberg a initié le suivi du dossier GDF Suez avec un conseil "conserver" et un objectif de cours de 22,5 euros...

Consulter cette news directement sur Boursier

[grupo guitarlumber] 02/3/2012 09:10

IPR-GDF SUEZ Asia signs for two geothermal projects
2 March 2012 | 08:04am
StockMarketWire.com - IPR-GDF SUEZ Asia has signed 30-year power purchase agreements for two 220MW geothermal projects with Indonesia's state-owned utility PLN.

IPR-GDF SUEZ Asia signed the deals with project partners PT Supreme Energy and Sumitomo Corporation.

The two projects, called Muara Laboh and Rajabasa, are planned to be built on Sumatra island to deliver power to the region which continues to experience high demand growth.

Both projects are included in the Indonesian government's second fast-track programme, of which around 4,500MW should come from geothermal sources.



At 8:04am: (LON:IPR) International Power share price was +11.15p at 361.25p


Story provided by StockMarketWire.com

[waldron] 29/2/2012 18:36

UPDATE: Greece Launches Tender For Gas Monopoly
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Today : Wednesday 29 February 2012
Greece Wednesday invited bids for state-owned gas company DEPA and gas grid operator DESFA, as it moves ahead with a long-awaited privatization program, aimed at raising EUR19 billion by 2015.

The government is considering a sale of its natural gas company--together with its wholesale, trading and gas supply operations--as well as DEPA's natural gas grid operator DESFA.

According to 2012 budget estimates, the total value of DEPA is EUR991 million. There is no separate estimate of DESFA, but analysts say that the DEPA sale combined with the majority stake in DESFA could net EUR1.5 billion to EUR2 billion.

"Our first preference would be a bundled sale of DEPA and DESFA," a source in the Hellenic Privatization Agency.

The Hellenic Republic owns 65% of DEPA and the rest 35% is owned by Hellenic Petroleum, which is partially owned by the Greek state. The two sides have entered into a Memorandum of Understanding to jointly sell their respective stakes in DEPA Group.

"The Greek state could collect as much as EUR1.5 billion to EUR 2 billion by a bundled sale of DEPA and DESFA," a local analyst said.

According to a press release by the Hellenic Republic Asset Development Fund, interested parties are invited to express their interest: either in acquiring DEPA in its current corporate structure (bundled sale) or in acquiring separately DEPA --including its stake in the EPAs--and separately DESFA after a relevant corporate restructuring (unbundled sale). In either case, the Hellenic Republic will retain a 34% stake in DESFA.

Expressions of interest are required to be submitted by 1700 GMT March 22, 2012, the statement said.

UBS AG (UBS), N M Rothschild & Sons Ltd. and Alpha Bank A.E.(ALBKY) are acting as financial advisers and Clifford Chance LLP and Koutalidis Law Firm are acting as legal advisers to HRADF.

Greece's offer comes a day after Minister for Environment, Energy and Climate Change George Papaconstantinou met Russian OAO Gazprom's (GAZP.RS) Deputy Chief Executive Alexander Medvedev, and the chief executive of DEPA, Haris Sachinis, in Athens.

The parties "discussed the prospects of privatization of Greek energy companies DEPA and DESFA," Gazprom said in a statement. The head of Prometheus Gas, a joint venture between Gazprom and Greece's Copelouzos group, also attended the meeting, according to a Greek ministry statement.

Gazprom Chief Executive Alexei Miller suggested last year his state-controlled company could consider participating in the privatization of DEPA.

"According to statements from officials, there are indications that about 20 companies could be interested," a source in the privatization agency added. These include: Russia's Gazprom (through its 50% subsidiary of Prometheus Gas), Algeria's Sonatrach, Spain's Gas Natural SDG SA (GAS.MC), France's GDF Suez SA (GSZ.FR), Italy's ENI SpA (ENI.MI) and the Austrian OMV AG (OMVKY).

DEPA is active in the wholesale, trading and supply of natural gas to large customers through the parent company DEPA. Through DESFA, the DEPA Group owns and operates the regulated high pressure gas transport network and liquefied natural gas re-gasification facilities in Greece. It is also active in the distribution and supply of natural gas to residential customers and small and medium enterprises, as well as in key international transit pipeline projects such as the Greece-Italy Interconnector, Greece-Bulgaria Interconnector and South Stream.

Greece's privatization program initially pledged to raise EUR50 billion from state companies and property by 2015. But, the target has been revised drastically in recent months to EUR19 billion as the country struggled to meet its targets.

-By Nektaria Stamouli, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 23/2/2012 18:54

GDF SUEZ : HSBC dégrade son opinion à Sous-Pondérer

(AOF) - HSBC a abaissé son opinion Surpondérer à Sous-pondérer sur GDF Suez ainsi que son objectif de cours de 24 à 18 euros.

[waldron] 16/2/2012 19:39

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February 16, 2012 6:18 pm

Gazprom bows to demand with gas price cut
By Guy Chazan in London
Gazprom has reduced the price of gas in its long-term contracts with European customers by 10 per cent, as it comes under mounting pressure to move away from oil-linked prices.

Alexander Medvedev, Gazprom's deputy chief executive, said the group had agreed to a price cut but fought off calls from customers to increase the spot price component in its contracts.

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"Our partners asked us to revise our prices and ... what we did is correct the parameters of our formula, which led to a relative price reduction of 10 per cent on average," he said.

"The new price will ensure that Russian gas remains competitive."

The concession came in negotiations with some of Gazprom's biggest customers, including France's GDF Suez, Wingas of Germany, the Slovakian gas company SPP and Botas, Turkey's state gas supplier, Mr Medvedev said.

It reflects the seismic changes that have transformed global energy markets in recent years. The boom in shale gas production in the US means cargoes of liquefied natural gas that were destined for the US market have been diverted to Europe, pushing down spot prices on continental trading hubs.

Gazprom's long-term supply contracts are indexed to the price of oil, but the influx of cheap LNG has emboldened its customers to demand it switch to spot – or hub-based – prices.

European gas prices have remained relatively flat over the past two years as oil prices have soared, piling on the pain for gas importers burdened with oil-linked contracts.

Jonathan Stern, director of gas research at the Oxford Institute for Energy Studies, said hub-based prices had been 25 per cent lower than oil-linked prices on average over the past two years.

Two years ago, Gazprom agreed to allow up to 15 per cent of its sales to be linked to spot prices for three years.

Since then, the pressure from customers has continued. The two German utilities Eon Ruhrgas and RWE, and Polskie Gornictwo Naftowe i Gazownictwo, Poland's gas monopoly, have taken Gazprom to arbitration after talks on pricing broke down.

Mr Stern said Gazprom was fighting a losing battle to preserve its oil-linked contracts. "Europe is moving to hub-based pricing, and that means Gazprom is as well," he said. To avoid more arbitration, the company "realises it has to narrow the gap between the oil-based price and the hub-based price".

Mr Medvedev said Gazprom's European sales grew strongly last year, despite the pressure on pricing, rising to 150bn cubic metres in 2011 compared to 138 bcm the previous year – at a time when overall European gas consumption fell by 8 per cent.

Mr Stern said Italy, which took more gas from Russia to make up for a shortfall from Libya, accounted for much of the increase.

[waldron] 16/2/2012 16:05

SSE Sells 25% Stake In NuGeneration To GDF/Iberdrola JV Firm
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Today : Thursday 16 February 2012
Multi-utility firm SSE PLC (SSE.LN) said Thursday it has completed the sale of its 25% stake in NuGeneration Ltd., or NuGen, the joint venture company established to develop proposals for a new nuclear power station in West Cumbria, to NNB Development Company S.A. for up to GBP7 million.

MAIN FACTS:

-NNB Development is a 50:50 joint venture between GDF Suez S.A. (GSZ.FR) and Iberdrola S.A. (IBE.MC).

-Stake has been sold for an upfront cash consideration of GBP5.75 million with a further contingent payment of GBP1.25 million dependent on progress with the development of the West Cumbria site.

-NuGen has an option to purchase the lease of land for the development of a new nuclear power station, of up to 3.6GW (gigawatts), near Sellafield in West Cumbria.

-SSE shares at 1410 GMT up 9 pence, or 0.7%, at 1285 pence valuing the company at GBP11.97 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [e-mail]

[ariane] 14/2/2012 18:55

INTERVIEW: Belgian Minister Still Seeking Path To Nuclear Phase-out
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Today : Tuesday 14 February 2012
With just three years to go before Belgium is due to begin phasing out nuclear power, the country is still grappling with basic questions about its plans, including whether the 2015 deadline has to be adjusted to ensure electricity supplies remain reliable.

Melchior Wathelet, the country's new state secretary for energy, told Dow Jones Newswires in an interview that a study currently being prepared, for presentation by July, will assess whether there is "an alternative that would guarantee the security of supply at an acceptable price and respecting the environment."

"I will say that I am getting out of [nuclear] only when I am sure I have an alternative ready," Wathelet said. Nuclear power accounts for roughly 55% of Belgium's electricity production.

The fate of nuclear energy, and how to substitute it, has been a highly controversial issue in Europe. Last year's atomic scare in Japan, after an earthquake and tsunami caused leaks at the Fukushima-Daiichi plant, heightened public sensitivity and prompted some governments, including Germany, to totally exit nuclear power. Complicating issues is the need for Belgium to comply with demanding European Union emissions standards, which would make it hard to replace nuclear--a climate-friendly source of power--with something like coal.

Belgium is also paying the price of a fractured political landscape that is sharply divided between French-speaking and Dutch-speaking communities. The new coalition government--formed after 18 months of tough negotiations among parties--has agreed to stand by a 2003 law that mandates a shut down of the country's seven reactors after 40 years of operation, leaving it with very little time to figure out its energy future at a time of increasing budgetary constraints.

But the approach to nuclear power has been equivocal for years. A previous government had started a process to extend the life span of the three oldest reactors--those expected to be shut in 2015--by ten years, while the 2003 law itself offers some room for maneuver, allowing the government to change shut-down plans in case of a "threat for the security of supply."

The study being undertaken by the present government "is necessary, but it should have been done earlier, now they are very late," said Wim Vandenberghe, a lawyer and energy expert at law firm Dechert LLP in Brussels, adding that it is "almost impossible" to get enough power capacity to cover for the missing nuclear in three years.

"You have a set of regulations, environmental permits, building permits...and you have a lot of public opposition to new power projects, and all this in a difficult investment climate" he said.

The government has asked roughly 180 investors and power companies for some feedback on their investment plans in Belgium, including what their plans are for the Belgian market, what could encourage their investment, and what challenges and opportunities they are facing, Wathelet said. Their answers will feed into the study he is preparing to decide what to do to for 2015, he said, adding that the government has no pre-determined opinion about the energy mix Belgium should have by then.

The study is specifically aimed at getting a decision on the 2015 deadline, when roughly one-third of Belgium's nuclear capacity would be shut. But things seem less clear when looking at 2025, the date by which all reactors would have to be taken offline.

There is still no specific plan for a long-term energy mix. That will be drafted around the upcoming study and the European Union's climate policy, Wathelet said.

"We know the European objectives...and for the rest I will plan according to what's possible in Belgium, but I am not going to tell you today that in 2025 we will have [for example] 30% of renewables, 40% of natural gas and 20% of coal," Wathelet said. The mix will have to be as green as possible, but at an affordable price, he explained.

The EU has clear, binding 2020 targets for reducing carbon dioxide emissions and increase the use of renewable energy. But the bloc is also looking at the much longer term, with policy strategies being driven by the aim of cutting greenhouse gas emissions by at least 80% by 2050.

-By Alessandro Torello, Dow Jones Newswires; [phone]; [e-mail]

[ariane] 10/2/2012 19:56

source: WSJ


GDF Suez Sees Profit Drop .Article Comments more in Business | Find New $LINKTEXTFIND$ ».Email Print Save ↓ More .
.smaller Larger By GERALDINE AMIEL
PARIS-French power company GDF Suez SA Thursday set cautious earnings targets for 2012 as it reported a drop in full-year net profit on mild weather conditions and a revenue hit from a tariff freeze in France.

GDF Suez, the world's largest independent power producer, said net profit was €4 billion ($5.3 billion), missing forecasts and down from €4.62 billion a year earlier. Revenue climbed to €90.67 billion from €84.48 billion.

GDF Suez Chief Executive Gérard Mestrallet said he is "confident" the company has the right strategy "to address the coming challenges of the world economy successfully and to deliver sustained growth with focus on profitability in the coming years."

The company introduced a new metric, "recurring net profit," that excludes restructuring costs, disposals and other factors and is intended to serve as the group's reference to investors, a spokesman said. GDF Suez said 2012 earnings under this metric were €3.5 billion. The company expects 2012 recurring net profits to come in at between €3.5 billion and €4 billion.

The guidance "is a bit lower than what the market expects," said Sylvain Navarro, a trader with H & Associés trading firm.

Shares in GDF Suez were recently trading 3.1% lower to €20.66 while the CAC-40 benchmark index was up 0.2%.

Earnings before interest, taxes, depreciation and amortization increased 9.5% to €16.53 billion from €15.09 billion a year earlier, due largely to the contribution from U.K.-based International Power PLC since February. Analysts had expected €16.38 billion.

In France, the company's home market, Ebitda fell 51% as mild weather and the gas tariff freeze lowered earnings by €900 million compared with 2010. Higher gas tariffs in France took effect Jan. 1 following a ruling favorable to GDF Suez by the Conseil d'État, the country's highest administrative court.

GDF Suez gave a somewhat more optimistic outlook on medium-term profitability, saying that by 2015 it expects a net recurring profit of around €5 billion, and a gross capital expenditure of between €9 billion and €11 billion per year. It said it expects a net debt/Ebitda ratio less than or equal to 2.5, "allowing a stable or growing dividend over 2013-2015," it said.

GDF Suez reiterated its medium-term objective to increase its installed power generation capacity to 150 gigawatt by 2016, to double energy efficiency services revenue in 2016-2017 and to grow renewable energy capacity. It will spend around €11 billion. The company said it plans to hire 100,000 employees between 2011-2015.

The group extended the average maturity of its net debt by more than two years beyond 11 years, and has €27.3 billion in liquidities: €15.9 billion in cash and €11.4 billion in undrawn credit lines. The average cost of gross debt remained stable at 4.57%.

In 2011, the company sold two-thirds of the €10 billion in assets that were planned over 2011-2013.

The company proposed a dividend of €1.5 a share for 2011 and intends to propose at least a stable dividend for 2012, Mr. Mestrallet said.

-Inti Landauro contributed to this article.

[waldron] 09/2/2012 17:30

UPDATE: GDF Suez Gives Cautious Outlook As Profit Drops
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Today : Thursday 9 February 2012
French power company GDF Suez SA (GSZ.FR) Thursday set cautious earnings targets for 2012 amid economic uncertainties, as it reported a drop in full-year net profit on mild weather conditions and a revenue hit from a tariff freeze in France.

GDF Suez, the world's largest independent power producer, said net profit was EUR4 billion, missing forecasts, down from EUR4.62 billion a year earlier, as revenue climbed to EUR90.67 billion from EUR84.48 billion.

The company also introduced a new metric, "recurring net profit," that excludes restructuring costs, disposals and other factors and is intended to serve as the group's reference to investors, a spokesman said.

GDF Suez said 2012 earnings under this metric was EUR3.5 billion. The company expects 2012 recurring net profits to come in at between 3.5 billion and 4.0 billion.

GDF Suez Chief Executive Gerard Mestrallet said he is "confident" the company has the right strategy "to address the coming challenges of the world economy successfully and to deliver sustained growth with focus on profitability in the coming years," according to a statement.

The guidance "is a bit lower than what the market expects," said Sylvain Navarro, a trader with H & Associes trading firm.

At 0815 GMT, shares in GDF Suez were trading 3.1% lower to EUR20.66 while the CAC-40 benchmark index was up 0.2%.

Earnings before interest, taxes, depreciation and amortization increased 9.5% to EUR16.53 billion from EUR15.09 billion a year earlier, due largely to the contribution from U.K.-based International Power PLC (IPR.LN) since February. Analysts had expected EUR16.38 billion.

In France, the company's home market, Ebitda fell 51% as mild weather and the gas tariff freeze lowered earnings by EUR900 million compared with 2010. Higher gas tariffs in France took effect Jan. 1 following a ruling favorable to GDF Suez by the Conseil d'Etat, the country's highest administrative court.

Revenue last year grew 7.3% to EUR90.67 billion, a record, from EUR84.48 billion a year earlier.

GDF Suez gave a somewhat more optimistic outlook on medium-term profitability. By 2015, GDF Suez expects a net recurring profit around EUR5 billion, and a gross capex between EUR9 billion and EUR11 billion per year, and a net debt/Ebitda ratio less than or equal to 2.5 times, "allowing a stable or growing dividend over 2013-2015," it said.

GDF Suez reiterated its medium-term objective to increase its installed power generation capacity to 150 gigawatt by 2016, to double energy efficiency services revenue in 2016-2017 and to grow renewable energy capacity. It will spend around EUR11 billion. The company said it plans to hire 100,000 employees between 2011-2015.

The group extended the average maturity of its net debt by more than two years beyond 11 years, and has EUR27.3 billion in liquidities: EUR15.9 billion in cash and EUR11.4 billion in undrawn credit lines. The average cost of gross debt remained stable at 4.57%.

In 2011, the company sold two thirds of the EUR10 billion in assets that were planned over 2011-2013.

The company proposed a dividend of EUR1.50 a share for 2011 and intends to propose at least a stable dividend for 2012, Mestrallet said.

By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail] (Inti Landauro contributed to this story.)

Order free Annual Report for International Power PLC

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[waldron] 09/2/2012 07:56

GDF Suez Sees Continued Uncertainty As Profit Drops
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Today : Thursday 9 February 2012
French power company GDF Suez SA (GSZ.FR) Thursday said it expects higher earnings in 2012 despite economic uncertainties, as it reported a drop in full-year net profit on mild weather conditions and a shortfall from a tariff freeze in France.

Net profit was EUR4 billion, missing forecasts, down from EUR4.62 billion a year earlier as revenue climbed to EUR90.67 billion from EUR84.48 billion. Recurring net profit, which excludes restructuring costs, impairments, disposals and the contribution from nuclear operations in Belgium, was EUR3.5 billion.

In 2012, it expects its recurring net profit to be between EUR3.5 billion and EUR4 billion and reiterated its medium-term objective to increase its installed power generation capacity to 150 gigawatt by 2016 and to double energy efficiency services revenue in 2016-2017.

Earnings before interest, taxes, depreciation and amortization increased 9.5% to EUR16.53 billion from EUR15.09 billion a year earlier, due largely to the contribution from U.K.-based International Power PLC (IPR.LN) since February. Analysts had expected EUR16.38 billion.

"This performance has been achieved in a tough economic environment on top of exceptional mild weather in Europe and gas tariff freeze in France," the company said.

In France, the company's home market, Ebitda fell 51% as mild weather and the gas tariff freeze lowered earnings by EUR900 million compared with 2010.

In 2011, the company sold two thirds of the EUR10 billion in assets that were planned over 2011-2013 as net debt fell to EUR37.6 billion at Dec. 31.

The company proposed a dividend of EUR1.50 a share.

Over the past six months, shares in GDF Suez have gained around 4% as activities in emerging markets supported the company's performance. Shares closed Wednesday at EUR21.32.

-By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

Order free Annual Report for International Power PLC

Visit or call [phone]

[waldron] 06/2/2012 15:35

GDF Suez Will Maintain Investments At EUR30 Billion Over 2011-2013- Report
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Today : Monday 6 February 2012
GDF Suez (GSZ.FR) will maintain its worldwide investments at EUR30 billion over the 2011-2013 period, said Chief Executive Gerard Mestrallet in an interview with French daily Le Monde Monday.

Mestrallet said this will be done whilst keeping a "healthy financial structure" in preparation for a recovery.

Concerning the company's investments in France, he said "in 2012, we will hire 7,600 people on permanent contracts and 2,500 on temporary contracts."

Newspaper Web site:

-By Paris Bureau, Dow Jones Newswires; 33-1-4017 1740 ([e-mail])

[waldron] 06/2/2012 09:00

Siemens Could Open Wind Turbine Plant In France - Report
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Today : Monday 6 February 2012
Germany's Siemens AG (SIE.XE) would open a wind turbine plant in France if the consortium it is part of were to win one of France's offshore windfarm tender offers, the head of its French unit, Christophe de Maistre, told Monday's French business daily Les Echos.

Siemens is part of a consortium led by French power operator GDF Suez SA (GSZ.FR), along with Vinci SA (DG.FR) and CDC Infrastructure, which bid for an offshore windfarm in Britanny, in North West of the country.

Should the consortium win the bid, Siemens would then build a plant nearby to make and install the 83 turbines and another plant dedicated to the windfarm's maintenance.

The initial plant would also be used to make turbines that would be exported to the U.K. and Northern European countries, de Maistre also said.

-By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 06/2/2012 08:01

GDF Suez Keen To Buy BG's 65% Stake in Gujarat Gas - Report
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Today : Monday 6 February 2012
GDF Suez SA (GSZ.FR) is keen to buy U.K.-based BG Group PLC's (BG.LN) 65% stake in Gujarat Gas Co. (523477.BY), the Economic Times reported Monday, citing sources it didn't name.

The report said that GDF had contacted other bidders to place a joint bid for the stake in the Indian company.

A GDF Suez spokesman didn't comment, the report said.

According to the report, BG said in an email that it was "very pleased with the level of interest in Gujarat Gas," but it didn't make any specific comments about the bids.

BG had put its 65% stake in Gujarat Gas for sale in November, the report said. Germany-based E.ON, Indian companies Oil and Natural Gas Corp., Bharat Petroleum Corp., Gujarat State Petroleum Corp., Adani group and Torrent Power Ltd. as well as global private-equity firms have bid for the stake, the report added.

Newspaper website:

-By New Delhi Bureau, Dow Jones Newswires; 91 11 4356 3300; [e-mail]

[waldron] 06/2/2012 08:00

GDF Suez Keen To Buy BG's 65% Stake in Gujarat Gas - Report
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Today : Monday 6 February 2012
GDF Suez SA (GSZ.FR) is keen to buy U.K.-based BG Group PLC's (BG.LN) 65% stake in Gujarat Gas Co. (523477.BY), the Economic Times reported Monday, citing sources it didn't name.

The report said that GDF had contacted other bidders to place a joint bid for the stake in the Indian company.

A GDF Suez spokesman didn't comment, the report said.

According to the report, BG said in an email that it was "very pleased with the level of interest in Gujarat Gas," but it didn't make any specific comments about the bids.

BG had put its 65% stake in Gujarat Gas for sale in November, the report said. Germany-based E.ON, Indian companies Oil and Natural Gas Corp., Bharat Petroleum Corp., Gujarat State Petroleum Corp., Adani group and Torrent Power Ltd. as well as global private-equity firms have bid for the stake, the report added.

Newspaper website:

-By New Delhi Bureau, Dow Jones Newswires; 91 11 4356 3300; [e-mail]

[waldron] 03/2/2012 17:11

GDF Suez: Supplies From Russia Dropped 30% Friday
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Today : Friday 3 February 2012
French power operator and natural gas distributor GDF Suez SA (GSZ.FR) Friday said that natural gas supplies from Russia dropped 30% as of Friday.

A GDF Suez spokeswoman said that in spite of lower supplies from Russia's OAO Gazprom (GAZP.RS), the group has no issue serving its customers thanks to other suppliers and its stocks.

Asked if GDF Suez was in discussions with Gazprom over the issue and when the Russian supplies would resume at normal levels, the spokeswoman declined to elaborate.

Russia represents 14% of GDF Suez's natural gas supply, while Norway represents 21%, Algeria 13% and the Netherlands 11%.

A wave of cold weather in Eastern Europe has increased Russia's domestic demand, reducing flows to a number of European Union countries.

Until Friday, GDF Suez hadn't noticed a drop in supplies from Russia.

-By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 03/2/2012 16:17

UPDATE: EU: Gas Shortage Hits Eastern Europe, Greece, Italy, Austria
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Today : Friday 3 February 2012
Russian natural gas supplies to Europe were curtailed for a third straight day Friday, as particularly cold winter weather increased Russia's domestic demand and hit flows to a number of European Union countries.

"There has been a decrease in gas deliveries," Marlene Holzner, a spokeswoman for EU Energy Commissioner Guenther Oettinger, told reporters. "Russia needs more gas itself, they are having an extremely cold winter," she said.

Holzner noted that the situation is not causing an emergency because all affected member states are currently able to meet the supply shortfall by buying gas from neighbors, using storage capacity, or importing liquefied natural gas.

The EU Friday afternoon activated a group of industry, government and energy experts that gather in emergency cases. It has started sharing information and is monitoring the situation, Holzner said.

She said that while exact figures for Friday aren't yet available, Thursday's supplies from Russia to Austria declined by 30%, to Italy by 24% and to Poland by 8%.

Other countries affected include Slovakia, Hungary, Bulgaria, Romania and Greece.

Ukraine, a transit country for around two-thirds of Russian gas supplies to Europe, was the first to be hit.

"There is a significant cold snap in Russia and the supply of gas to the country (Ukraine) has fallen significantly," Ukrainian Energy Minister Yuriy Boiko said Friday in comments confirmed by a spokesman.

Any reduction in gas flows from Russia attracts strong attention in the EU, after repeated crises in recent years. In 2009, a tough dispute over price between Russia and Ukraine caused Moscow's gas supplies to EU countries to plunge, crippling the flow to some countries for weeks.

Russian state gas firm OAO Gazprom (GAZP.RS) gave advance warning to EU companies about the possible flow reductions, an EU official said Friday, noting there was currently no reason to believe there was any ill intent behind the disruption.

The impact on EU member countries has been mixed.

Poland's natural gas monopoly PGNiG SA (PGN.WA) said it expects small scale irregularities in gas deliveries coming over its eastern border in the next few days due to the low temperatures throughout Europe, but noted that supplies from Gazprom have returned to the amounts ordered.

Franco-Belgian power operator GDF Suez SA (GSZ.FR) meanwhile said it didn't notice any change in supplies as of Friday.

But in Italy, Russian gas flow was 29% less than requested for Friday via an entry point in the north-east of the country, according to data available on the website of Snam SpA (SRG.MI), which runs the gas grid, as of 1300 GMT. Russia represents around 30% of Italy's imports, with the rest coming mainly from Algeria, Libya, Norway, and Qatari Liquefied natural gas.

Wingas--Germany's second-largest importer of gas and a 50-50 joint venture between German chemicals giant BASF SE's (BAS.XE) Wintershall unit and Gazprom--also said Friday Russian gas was arriving in reduced volumes, but declined to quantify the amount. But Wingas added that there was no issue in terms of security of supply because the company is well diversified and has solid levels of storage.

Since the 2009 crisis, the EU has significantly improved its capacity to respond to gas shortages. Member countries have improved storage capacity and increased interconnections to enable the movement of gas in many different directions among them.

EU countries are obliged to stock natural gas equivalent to 30 days of consumption. However, the EU official said there is uncertainty about whether all the region's 27 member states are in compliance with that rule.

Russia's gas imports account for roughly 25% of the total EU gas consumption.

-By Frances Robinson and Alessandro Torello, Dow Jones Newswires; [phone]; [e-mail]

(Marynia Kruk in Warsaw, Geraldine Amiel in Paris, Jan Hromadko in Frankfurt, Liam Moloney in Rome, Laurence Norman in Brussels and James Marson in Kiev contributed to this article.)

[waldron] 03/2/2012 09:18

Gazprom Says 'Perplexed' by EU Supply Drop as Ukraine Takes Gas
February 03, 2012, 1:19 AM EST
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Ukraine's Naftogaz Guarantees Gas Supply to Europe
OMV Says Baumgarten Hub Gets 30% Less Russian Natural Gas
Gazprom Boosts Capacity as EU Buyers Seek More Gas Amid Cold
Gazprom Caps Europe Gas Sales on Cold Spell, Interfax Says
Gazprom Says EU Gas Customers Seek More Frequent Price Revisions
By Anna Shiryaevskaya


(Updates with Gazprom Deputy CEO comment in first paragraph.)

Feb. 2 (Bloomberg) -- OAO Gazprom is "perplexed" by reports of a decline in Russian natural-gas supplies to Europe, said Deputy Chief Executive Officer Alexander Medvedev, adding Ukraine is taking more fuel than contracted during a cold snap.

Gazprom, Russia's gas exporter, is boosting gas supplies to the "maximum" to Europe, Ukraine and Belarus as the freezing weather raises demand, Medvedev said today in an e-mailed statement, after Austria, Poland and the Czech Republic reported imports had fallen.

"Amid the freezing winter in Russia and Europe, our company has boosted gas supplies to the maximum," Medvedev said. "Offtake of gas from European storage has quadrupled in the past week."

The European Union relies on Gazprom for about a quarter of its gas, with as much as 80 percent of Russian shipments crossing Ukraine. Disputes between the two countries over gas prices and transport costs have disrupted winter supplies to Europe twice since 2006. Tension escalated this year as Ukraine, Gazprom's biggest gas customer by contracted volumes, sought to renegotiate its agreements with Russia.

'Sitting on Transit'

OMV AG, central Europe's biggest oil company, said today its natural-gas hub in Baumgarten, Austria, is getting 30 percent less gas than yesterday from Russia. Polskie Gornictwo Naftowe i Gazownictwo SA, Poland's dominant gas company, said imported Russian gas supplies have been cut by about 7 percent effective today. This week's freezing weather is the deepest cold snap since December 2010, according to High Wycombe, England-based British Weather Services.

"Sitting on transit pipelines, Ukraine is taking gas at an annual rate of 60 billion cubic meters, which is significantly higher than contracted volumes," Medvedev said in the statement. The exporter didn't provide current transit volumes via Ukraine.

NAK Naftogaz Ukrainy, Ukraine's state-run energy company, said it is guaranteeing gas transit to Europe and supplying local consumers from storage. Imports and transit are in compliance with the contracts with Gazprom, Naftogaz said today in a statement.

No Shortages

The eastern European country has asked Gazprom to lower contracted volumes by about 48 percent this year or cut prices, saying the supply agreement hurts its economy. Gazprom has rejected the plan. In 2009, the Moscow-based gas company agreed on a 10-year supply contract to end the interruptions in deliveries. The deal obliged Ukraine and Russia to agree in writing on revisions at least six months before the start of the year, according to Gazprom.

"We don't anticipate any actual shortages to be experienced in Europe," Ronald Smith and Alexander Bespalov, analysts at Citigroup Inc. in Moscow, said in a note yesterday.

Cold weather in Europe hasn't created a supply shortage as stocks are full after a mild winter up until now, Jean-Francois Cirelli, vice chairman and president of GDF Suez SA, Europe's largest utility by market value, said yesterday.

--With assistance from Daryna Krasnolutska in Kiev, Zoe Schneeweiss in Vienna and David McQuaid in Warsaw. Editors: Torrey Clark, Stephen Cunningham

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at [e-mail]

To contact the editor responsible for this story: Will Kennedy at [e-mail]

[ariane] 01/2/2012 11:14

GDF Suez:European Energy Market Hit By Tough Economic Environment
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Gdf Suez (EU:GSZ)
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Today : Wednesday 1 February 2012
The European energy market faces a challenging economic and financial environment, and is plagued by "political interventionism" and regulatory uncertainties, Franco-Belgian power operator GDF Suez SA's (GSZ.FR) chairman and chief executive Gerard Mestrallet said Wednesday.

Some of GDF Suez's rivals in Europe are even "disheartened" by the regulatory inconsistencies, Mestrallet said, without naming them.

The European energy markets are mature and marked by a low growth in end demand, he said during the presentation of the group's new internal organization.

The change in organization has created a huge division devoted to the European energy market to help the group anticipate the mutations of that market, Mestrallet said. "We are creating a huge division...to be able to bring together the fortes of our business model...We are convinced that natural gas has an important role to play in the European energy network," he said.

The new branch will allow to "further optimize the efficiency, the profitability of the company...in an energy world that will enormously change," he added.

The division will be headed by the group's co-chief executive Jean-Francois Cirelli.

-By Geraldine Amiel, Dow Jones Newswires; [phone]; [e-mail];

[waldron] 27/1/2012 14:50

GDF Suez is flat. UBS removed the stock from its "Most Preferred List."

[waldron] 26/1/2012 17:08

Statoil Increases Estimates For Snohvit Gas Field
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Statoil Asa (NYSE:STO)
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Today : Thursday 26 January 2012
Norwegian oil major Statoil ASA (STO) is increasing volume estimates for its Snohvit offshore development in the Barents Sea, a Statoil spokesperson said Thursday.

The reserve is now thought to contain an additional 20 billion cubic meters of natural gas, Ola Anders Skauby told Dow Jones Newswires, on top of a previous estimate of 190 billion cubic meters.

"We have increased our understanding of the reserve and the bedrock in the area. It behaves in a different way than anticipated, which means that we are upgrading our reserve estimate," Skauby said.

Production of liquid natural gas at Snohvit stared in 2007, as the first offshore development in the Barents Sea.

Statoil has a 33.53% stake of the reserve, while Petoro has a 30% stake. Other partners are Total SA (TOT), with 18.40%, and GDF Suez SA (GSZ.FR), with 12%.

-By Sven Grundberg, Dow Jones Newswires; [phone]; [e-mail]

[waldron] 26/1/2012 08:38

Barclays Capital qui maintient son conseil "pondération en ligne" sur le dossier GDF Suez a ajusté son cours cible de 20 à 21