Natural Gas Markets - PDF by po2378


									                                                          ROBERT SCHUMAN CENTRE FOR ADVANCED STUDIES

Florence School oF regulation
Specialized Training Course

Natural Gas Markets

Badia Fiesolana, Theatre
Via dei Roccettini, 9
San Domenico di Fiesole (FI)

Programme                                                                            Florence, 23 - 27 March 2009

Monday, 23 March                                                                                 Market context
        13h40 – 14h00          Registration and welcome coffee
        14h00 – 14h15          Welcome address, Stefano Bartolini
        14h15 – 14h30          Introduction to the course, Jean-Michel Glachant
        14h30 – 16h00          EU Third package and regulatory framework, Jacques De Jong (CIEP)
        16h00 – 16h30          Coffee break
        16h30 – 17h30          Gas crisis: Impact, experiences and what next?, Manfred Hafner (FEEM)
        17h30 – 18h30          Presentation of course participants
                  19h00        Welcome cocktail (Upper Loggia)

tuesday, 24     March                                                                       Market developMent
        09h00 – 10h30          Market functioning and design, Benoît Esnault (CRE)
        10h30 – 11h00          Coffee break
        11h00 – 12h30          Market functioning and design, Benoît Esnault
        12h30 – 13h30          Lunch
        13h30 – 15h00          Case study: UK and Dutch market, Martin Thomas (APX Group)
        15h00 – 15h30          Coffee break
        15h30 – 17h00          Case study: Promoting transparency in the market, Markus Krug (E-Control)
        17h00 – 17h30          Presentation of course participants
                  17h30        Guided tour in the centre of Florence
Wednesday, 25 March                                                                         InterconnectIon
     09h00 – 10h30    Third party access rules, tariff systems, capacity allocation, Carlos Lapuerta (Brattle
     10h30 – 11h00    Coffee break
     11h00 – 12h30    Third party access rules, tariff systems, capacity allocation, Carlos Lapuerta
     12h30 – 13h30    Lunch
     13h30 – 15h00    Case study: Open season, auctions & investment and tariffs, Laurent David (GDF
                      SUEZ) and Carole Le Hénaff (GDF SUEZ)
     15h00 – 15h30    Coffee break
     15h30 – 17h00    Case study: Open season, auctions & investment and tariffs, Laurent David and
                      Carole Le Hénaff
     17h00 – 18h00    Presentation of course participants
             18h00    Short walk and social dinner in Fiesole

thursday, 26 March                                                                                     storage
     09h00 – 10h30    Third party access, seasonal vs strategic storage, Anna Creti (Bocconi University)
     10h30 – 11h00    Coffee break
     11h00 – 12h30    Third party access, seasonal vs strategic storage, Anna Creti
     12h30 – 13h30    Lunch
     13h30 – 15h00    Case study: Storage in Italy, Rosita Carnevalini (AEEG) and Anna Creti
     15h00 – 15h30    Coffee break
     15h30 – 17h00    Case study: Storage in Italy, Rosita Carnevalini
     17h00 – 18h00    Presentation of course participants

FrIday, 27 March                                                                                         LNG
     09h00 – 10h30    LNG business and supply challenges, David Ledesma (Oxford Institute Energy
     10h30 – 11h00    Coffee break
     11h00 – 12h30    LNG pricing, markets in Europe, and outlook, David Ledesma
     12h30 – 13h30    Lunch
     13h30 – 15h00    Case study: LNG in Spain, Louis Olmos (Comillas University),
                      Juan de Miguel Salanova (CNE) and Víctor Tuñón (Gas Natural)
     15h00 – 15h30    Coffee break
     15h30 – 17h00    Case study: LNG in Spain, Louis Olmos, Juan de Miguel Salanova and
                      Víctor Tuñón

Goran Babić                   Senior Associate for Tariff Systems and the Gas Oil Market, Croatian Energy Regulatory Agency, Croatia
Clive Bowers                  Analyst, Commission for Energy Regulation, Ireland –
Shkelquim Bozgo               Commissioner, Albanian Energy Regulator, Albania –
Hrvoje Brlečić                Senior Associate in Sector for Gas and Oil, Croatian Energy Regulatory Agency, Croatia –
Mohamed Kheiredine Chouli Senior Engineer, Authority of Regulation of Hydrocarbons (ARH), Algeria
Malika Ghazi                  Petroleum Economics Engineer, Authority of Regulation of Hydrocarbons (ARH), Algeria
Engin Goktas                  Energy Expert, Energy Market Regulatory Authority, Turkey –
Michelle Hallack              Phd Student, University of Paris Sud/GRJM, France –
Konstantin Heiller            Gas Expert, E-Control GmbH, Austria –
Claude Hornick                Head of Department, Institut Luxembourgeois de Régulation, Luxembourg –
Nico Keyaerts                 Researcher, University of Leuven Energy Institute, Belgium –
Lorenzo Meucci                Business Development ,Edison S.p.A, Italy –
Brahim Nouicer                Gas Director, CREG, Algeria –
Paolo Pretto                  Enel S.p.A, Italy –
Aurora Rossodivita            International Institutional Relations - General Secretariat, Italian Regulatory Authority for Electricity and Gas,
                              Italy –
Mojca Španring                Senior Economic Specialist, Energy Agency of the Republic of Slovenia, Slovenia –
Matthias Stöckl               Legal Counsel, OMV Gas GmbH, Austria –
Valerio Usella                Regulatory Analyst, Enel S.p.A, Italy –
Clement Johan Ulrichsen       Economist, Danish Energy Regulatory Authority, Denmark –
Kerstin Wernig                Gas Expert, E-Control GmbH, Austria –


Rosita Carnevalini            Director, Strategy Study and Documentation Department, Italian Regulatory Authority for Electricity and
                              Gas, Italy –
Carole Chapelotte Le Hénaff    Economist, GDF SUEZ, France –
Anna Creti                    Professor, Bocconi University - IEFE, Italy –
Laurent David                 Head of Economics & Sociology Unit, GDF SUEZ, France –
Jacques de Jong               Senior Fellow, Clingendael International Energy Programme (CIEP), The Netherlands –
Juan De Miguel Salanova       Project Manager, Gas Division, Comisión Nacional de Energía (CNE), Spain –
Benoît Esnault                Head of Department, Gas Division, Commission de Régulation de l’Énergie (CRE), France
Manfred Hafner                Research Associate, Fondazione Eni Enrico Mattei (FEEM),I taly –
Markus Krug                   Gas Expert, E-Control GmbH, Austria –
Carlos Lapuerta               Director, The Brattle Group Ltd, UK –
David Ledesma                 Consultant, Oxford Institute Energy Studies/South-Court Ltd, UK –
Luis Olmos                    Researcher (PHD), Pontificia Comillas University, Spain –
Martin Thomas                 Operations Director, APX Group, UK –
Víctor Tuñón                  Executive Director - Key Account Business, Gas Natural Sdg, Spain –


Stefano Bartolini              Director RSCAS, EUI, Italy –
Ernesto Bonafé                 Research Assistant Florence School of Regulation, EUI,I taly –
Jean-Michel Glachant           Director FSR, EUI, Italy –
Leonardo Meeus                 Coordinator FSR, EUI, Italy –
                                                SPEAKERS’ CURRICULA

Anna Creti is Assistant Professor at the Economics Department, Bocconi University in Milan and Research Director at the
“Research Center on Environment and Energy Economics” (IEFE-Bocconi). She obtained a PhD in economics from the University
of Toulouse. She has been previously fellow at the London School of Economics, and researcher at the Institut d’Economie
Industrielle, Toulouse. She has published in various journals covering several topics in network economics, with a special focus
on telecommunications, electricity and gas sectors. Her research interests are in energy economics, industrial organisation,
regulation theory and organisation theory.

Jacques de Jong in 2003 joined CIEP as a senior fellow, after a distinguished career in government energy policy making. Since
1971 he has been working for the Dutch ministry of Economic Affairs, where he was involved in oil and international energy
policy issues. In 1981 he was appointed as deputy director for electricity, with responsibility for nuclear energy and coal. He
held several international positions as (vice-) chairman in EU- and OECD fora. During the 1990’s he was account manager for the
energy utility sector and heavily involved in the liberalisation process. In 1998 he was appointed as the first director of the Office
for Energy Regulation (DTE). He was also co-founder of the Council of European Energy Regulators (CEER) and heavily involved in
the Florence and Madrid Fora. Next to his career at CIEP, he will remain advisor for the Dutch government on energy policy issues.
(Current) Projects: European gas and electricity markets and energy regulation, History of Dutch energy policies, the energy-
environment-foreign policy equation, Training in energy issues.

Juan de Miguel Salanova has a degree in Industrial Engineering from the Universidad Politécnica in Madrid, under a specialization
in Energy Technologies. After a three-year experience in the electricity system operation, he works since 2004 in the gas sector,
in the Department of Development of Regulated Activities within the Gas Division in the National Energy Commission (CNE); the
energy regulator in Spain.

Benoît Esnault is Head of the European Gas Industry Department within the Gas Infrastructure Division of the French energy
regulatory commission (CRE), he is responsible for CRE participation to the works of ERGEG and international issues in the gas
sector. Before joining CRE in May 2008, Benoit Esnault was a senior economist at the Observatoire Méditerranéen de l’energie (OME)
from 2002 to 2008. He was responsible for markets and regulation for gas and electricity and worked on the Euro-Mediterranean
partnership in energy. From 2000 to 2002, he was a post doc researcher at the University of Paris Dauphine where he studied the
impact of liberalization on the gas and electricity value chains in Europe. Benoit Esnault holds a doctorate in economics. His PhD
researches focused on gas storage economics and regulation in the transition from monopoly to competition in Europe.

Manfred Hafner has a 20 years international carrier in the energy sector. He presently coordinates energy policy and security of
supply activities at FEEM (Fondazione Eni Enrico Mattei); is President for Europe, MENA, Russia and CIS of IEC (International Energy
Consultants); and teaches energy economics, markets and policy at the Ecole des Mines de Paris, the Institut Français du Pétrole
and HEC-Paris. Until early 2008 he was for many years the Scientific Director of OME (Observatoire Méditerranéen de l’Energie – a
think tank and association of some 35 major energy operators in the Euro-Mediterranean area). Mr Hafner holds master degrees
in energy engineering, economics and policy from the Technische Universität Műnchen (Germany), the Insitut Français du Pétrole
(France), the Université Paris2/Panthéon Assas (France) and the University of Pennsylvania (USA). He also holds a PhD from the
Ecole des Mines de Paris. He speaks English, French, German, Italian, Spanish and Russian.

Markus Krug joined E-Control GmbH, the Austrian Energy Regulatory Authority, in 2006. After completion of his master’s degree
in international business administration he worked in the energy practice of a management consultancy and for a European
energy utility. At E-Control, Markus Krug works in the gas department where his duties involve issues related to network access to
the transmission network as well as the assessment of gas specific aspects in tariff setting.

Carlos Lapuerta is a director of The Brattle Group, an international consultancy specialising in the economic and financial analysis
of the energy industry. His practice focuses on the valuation of natural gas businesses, the analysis of competition in natural
gas markets, and on the appropriate design of regulations for the liberalisation of the gas industry. He has written two major
reports for the European Commission concerning the appropriate rules for access to natural gas pipelines, and he has advised the
energy regulators of Austria, Belgium, Greece, Ireland, Italy, the Netherlands, and the United Kingdom on engagements involving
the determination of appropriate tariffs and rules for using natural gas networks and LNG terminals. He has also worked for gas
pipeline networks, LNG producers, and gas distribution companies. Mr. Lapuerta has degrees in law and economics from Harvard
                                                SPEAKERS’ CURRICULA

Carole Le Hénaff received her Ph.D in economics in 2004 (University of Paris Dauphine). She was post-doc at the Research &
Innovation Division at EDF in 2005. She is currently project manager at the Research & Innovation Division at GDF SUEZ, working
on the “deregulation” of the European gas market. Carole Le Henaff’s research fields include industrial organisation, competition
policy, regulation and network industries.

David Ledesma is an independent consultant with over 15 years LNG experience gained through the development of LNG
projects in Asia and the Middle East. David provides commercial, financing and strategic support to National and International
energy companies globally. He also gives commercial training courses on LNG and is one of the authors for the Oxford Institute
Energy Studies book “Gas in Asia” published in June 2008.

Luis Olmos is a senior researcher, at the Instituto de Investigación Technológica (IIT) of the Universidad Pontificia Comillas in
Spain. He graduated in Electrical Engineering at the Universidad Pontificia Comillas in Madrid in 2000. After that, he got a Ph. D.
in Industrial Engineering in 2006 at the Instituto de Investigación Tecnológica (IIT) in the same university. Luis is widely regarded
as an international expert in the regulation and economy of the energy sector. He has been working on research projects related
to this field for almost 10 years, and has published nearly a dozen book chapters and refereed journal articles, as well as several
technical reports. Luis Olmos has also been seconded to the University of Cambridge, in the United Kingdom, and to the Delft
University of Technology, in the Netherlands. There he served as an invited researcher and took part in different projects on the
regulation and modelling of energy systems.

Martin Thomas is Operations Director for APX, the Anglo-Dutch trading exchange that operates gas, power and other markets in
the UK, Netherlands and Belgium. Martin read Natural Sciences at Churchill College, Cambridge before joining the CEGB to work
on transmission system control automation. He spent most of the 1990s working on services for the Electricity Pool and became
an expert on its design and rules, a role he continued in contributing to the design of the New Electricity Trading Arrangements
which replaced the Pool. In his role at APX Martin is a member of the Management Board and is responsible for the 24/7 operation
of APX’s auctions and continuous markets, and for the development and operation of the ICT and other systems that support
these markets.

Víctor Tuñón Career has spanned over 20 years with Gas Natural SDG and Repsol. He is now the Executive Director – Key Account
Business of Gas Natural, having spent the previous years in the position of General Manager of Gas Natural Comercializadora,
Director Planning and Control, Gas for Repsol YPF and the two previous years in the same role but with Gastream (LNG business).
Before this, he has been in the Gas and Power Vicepresidency (Repsol YPF) and has been the General Manager of La Energía
(Cogeneration Unit in Gas Natural SDG). He is a Mining Engineer (Madrid Polytechnic University) and MBA (IESE).

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