Negotiating access rights in Multi-User terminal agreements

Rudolf Huber

Head of Business Development, EconGas GmbH

London, 27 January 2009

2

Death of the milk run

No stable supply lines

Distribution of risk

Optionality vs. Baseload

3

Wishful thinking

The baseload pipedream

Needs monopoly downstream

Mocks flexibility

Commercial common sense

The world has moved

4

What terminal type for you?

Trading option

Security of supply

Market sinks

Integrated terminal

5

The parties (remake)

True Multiparty

No cross subsidies

Risk reward balance

6

More (and more complex) contracts

No agreements for the cabinet

Parties have interests to defend

Must survive the reality test

Must be gaming proof

7

Apples to apples

Established vs. Greenfield

Big vs. small

Longterm vs. shortterm

TPA exemption needed or not

Umbrella principle

8

Education of regulators

World of theory

Civil service mind

What risks?

No real market

9

Intershipper coordination

Necessary?

Operators role (vs. Agent)

Relationship with TUA

Enforcement

10

COM – neutral or not?

Standards improve

Should not change the TUA

Grey areas in TUA

Who determines the content?

11

Change in style

Holistic strategy

Risk and reward balance reinstated

Emanates from corporate strategy

12

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www.econgas.com