EU and Russia Energy Trade: Impact of WTO, Transit and Integrated

Report
EU and Russia Energy Trade: Impact of
WTO, Transit and Integrated Economic
Areas (introductory remarks of the
session’s chair)
A.Konoplyanik
First Groningen Moscow Conference on EU-Russian Energy Law
“Legal Aspects of Guaranteeing EU-Russian Security of Energy
Demand and Supply”, Groningen, The Netherland, 30-31 May
2013
Russia-EU cross-border gas supply chain
EU-25/27 border
Since 2004/07
LTC
Retail
supplies
CIS
“New” EU-25/27
LTC
Russia
LTGEC
Wholesale
supplies
Export Supplies
Production
Till 2004
“Old” EU-12/15
COMECON
USSR
EU-12/15 border
C
B
A.Konoplyanik, Groningen, Transit Session, 31.05.2013
A
2
RUSSIAN GAS EXPORT TO EUROPE:
ON-BORDER SALES AND TRANSIT SEGMENTS
Soviet/Russian LTGEC to EU:
A, B, C – points of change of
ownership for gas and/or pipeline;
C – delivery points
to EU
Ya m al pe nin su la field s: to b e
de v elop ed a fte r 201 5; m ay requ ire
up to 6-7 larg e-d iam e te r pipe line s
S h to k m ano v sk o ye
Ya m
S h to k m ano v sk o ye fie ld: to b e
de v elop ed a s of 200 7; m ay requ ire
1-3 larg e-d iam ete r p ipe line s
en
al P
K ara S ea
Z ap oly arn oy e field :
E x p loitation be ga n
la te O c to ber 2 001
to s upp ly g as fo r
“B lue Stre am ”
in s u
B are n ts S e a
la
M urm ans k
Ob
Gu
lf
Taz G ulf
Ya m burg
N o rw e g ia n
Sea
U k hta
F IN L A N D
A rk hangelsk
N O RW A Y
No
H elsinki
Sto ckh olm B altic
S ea
Lub ec k
M in sk
B E LA R U S
P O LA N D
G E R M A NY
L in k
Y a m al-2
1
Ya m a l- W a rsaw
N E TH E R L A N D S
B E LG IU M
a
R U S S IA
R os toc k
G reifs w ald
UK
C Z EC H R E P .
SL OV A K RE P .
Yelets
U K R A IN E
K iev
B rats tv o
(B ro the rh o od )
So y u z
S W IT ZE R LA N D
A U ST R IA
C
K h ara m pur
Ob
R U S S IA
Map source IEA
O renb urg
E x is tin g L arg e-D ia m e ter P ipe line
P la nn ed La rg e-D iam eter P ipe lin e
K a rac h aga nak
P rod uc in g G as F ield
K A ZA K H S TA N
M O LD O VA
F R AN C E
ts
st S
i be ria B lue Str ea
m
C on ne cto r
N orth S e a
M o sc o w
lg
We
Vo
Torz hok
L IT H U A N IA
th
gh
U re ngo y
St. P eters burg
s
ga
ns
r
No
Li
E S TO N IA
L A TV IA
Tr a
D E N M A RK
rth
n
er
Z ap oly arn oy e
M ed v ez h’y e
U r a l s
S W E DE N
al
M o u n t a i n s
m
Ya
U nd ev e lop e d G a s F ield
H U N G A RY
R O M A N IA
B
А
A.Konoplyanik, Groningen, Transit Session, 31.05.2013
3
Russian Gas Supplies to Europe: Zones of New Risks for Existing
Transit Supplies Within Russia/Gazprom Area of Responsibility
Direction of Russian gas flow to Europe
Zones of new risks
France
Switzerl.
Italy
Turkey
Germany
Austria
Greece
Poland
Slovakia
Czech R.
Hungary
Romania
Bulgaria
Baltic St.
New Risks 2
zone
EC – 25/27
EC – 15
Belarus
Ukraine
Moldova
Russia
New Risks 1
zone
А
RF
В
С
USSR
COMECON
Italic – non-EU countries; New EU accession states: underlined – since 01.05.2004, underlined + italic
– since 1.01.2007; bold – non-EU members of Energy Community Treaty ; A, B, C – points of change
of ownership for Russian gas and/or pipeline on its way to Europe
A.Konoplyanik, Groningen, Transit Session, 31.05.2013
4
EU internal gas market architecture according to Third
EU Energy Package
(entry-exit zones with virtual trading points/hubs)
-
Hub B
Hub A
Hub D
Hub C
Source: 17th Madrid Forum (Jan
2010), Energy Regulators of EU
Member States
Pipelines-interconnectors
between EU zones
Supplies to the EU from non-EU
A.Konoplyanik, Groningen, Transit Session,
31.05.2013
5
Long Distance Capacity bookings in the EU
Regulatory Framework (appeared in GTM in result
of Consultations)
Yes, this is
a given
legal
reality to
be dealt
with by
any actor
at the EU
market,
but …
Whether
Auctions
are the
best
effective
systemic
solution?
A.Konoplyanik, Groningen, Transit Session, 31.05.2013
3
Contractual Mismatch Problem: major risk for
contract parties in unbundled gas market
Duration (D)
Supply contract: D + V
Volume (V)
CP 1
Transit contract: D + V
CP 1
or
Commodities
market
CP 2
Contractual
mismatch =
CP 3 = ΔD + ΔV
Transportation contract: D + V
Capacities
market
Contractual mismatch: between duration/volumes (D/V) of long term
supply/delivery contract (LTGEC; CP1-CP2) and transit/ transportation contract
(CP1-CP3); the latter is integral part to fulfill the delivery contract => risk nonrenewal transit/ transportation contract => risk non-fulfillment supply/delivery
contract.
Core issue: guarantee of access to/creation of adequate transportation capacity for
volume/duration of long term contracts
7
A.Konoplyanik, Groningen, Transit Session, 31.05.2013
Thank you for your attention
www.konoplyanik.ru
[email protected]
A.Konoplyanik, Groningen, Transit Session,
31.05.2013
8

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