Our main goal – namely the security of supply – does not only concern the gas pipelines, since it is a much more complex issue. When thinking about security of supply at E.ON Földgáz Storage, we consider the following four pillars:
- Energy-efficiency: The less energy we consume, the greater security we enjoy, since we are less exposed. Therefore, we encourage our customers to increase their energy-efficiency, and we support training experts who are specialized in improving the efficiency of heating systems.
- Gas storage facilities: The more gas we are able to store, the less problems we face in case of an emergency. At the moment, E.ON Földgáz stores 25% of the annual Hungarian demand, which capacity is being expanded continuously. Until autumn 2009, a significant storage capacity expansion project will be accomplished to enhance the security of supply.
- Gas pipelines: Hungary could benefit from any new gas pipeline if its source differs from that of the current ones, and if it generates costs acceptable by the consumers. Out of the current possibilities, the pipeline planned to reach the LNG terminal in Krk, Croatia is of primary importance, and the parent company of E.ON Földgáz plays a key role in its implementation.
- A smooth-running natural gas market: It means the constellation of a predictable regulatory environment and participants who consider the long-term interest of the market, resulting in competitive prices for the consumers and attracting traders who are willing to invest. Therefore, we support the liberalization of the gas market. Expressing this, we put up 10% of our imported gas to auction each year, and we revoke half of our domestic procurement contracts for the benefit of a competitive market participant.
Still, security of supply shall be handled regionally, or moreover, at a European level. Therefore, it is a further advantage for Hungary that the E.ON Földgáz companies are included in the E.ON Pan-European business. Our consumers could cash in on the advantages of a large and balanced gas supply portfolio, and due to our size, our company is in a favourable position when negotiating with gas producers. The technical and commercial expertise we receive from our parent company is combined with a secure financial background and transparency.
All in all, we are responsible for the security of gas supply in Hungary, and we meet this liability well. Due to our extensive investments, we are highly interested in the economic recovery of Hungary, and in providing a high quality and secure supply to our customers.
