Fluxys, DESFA Collaborate to Foster Gas Cooperation
The Belgian federal energy market regulator Creg, the Belgian natural gas system operator Fluxys and their Greek counterparts Rae and Desfa have agreed to foster cooperation between Belgium and Greece in the natural gas sector. They are going to exchange best practices and know-how in market regulation including gas hub developments.
Fluxys and Desfa have agreed to create a virtual trading point in Greece. Through its subsidiary Huberator, Fluxys operates the Zeebrugge Beach, the first (1999) physical trading point on the European mainland, and the Zeebrugge Trading Point (2012), a virtual trading point in the wake of the entry into force of the Belgian entry-exit model. The agreement involves a feasibility study for the creation of a liquid wholesale gas market in Greece, which entails the setup of a notional point where market players can exchange gas commodity and contribute to a well-functioning market-based balancing regime in line with the European legislation.
Fluxys' CEO Walter Peeraer and Desfa's CEO Konstantinos Xifaras underline the good cooperation between transmission system operators in Europe, as envisaged by the blueprint of the EU's Third Energy Package. "The future Greek gas hub is a first step in the creation of a regional gas market in South Eastern Europe, which will improve the functioning of the Greek market. It will undoubtedly increase security of supply and promote price transparency in the region, particularly thanks to the greater diversification of sources which will be achieved once the Trans Adriatic Pipeline delivers the first quantities of Azeri gas in Greece."
Open market conditions
Creg and Rae signed a memorandum of understanding to cooperate in the implementation of the EU legislation and national regulatory issues. Both market regulators endorse the promotion of effective market opening for all customers and suppliers and to insurance of appropriate investment conditions. Timely and meaningful exchange of information and views regarding all sectors of their competence will contribute to integrated and effective regulatory decisions.
Koen Mortelmans