1. 1 Open Seasons between France and Belgium GRTgaz Fluxys Gas Regional Initiative North-West Stakeholders Meeting 7 May 2010

2. 2 Contents Open Season North-South Open Season project South-North Key findings

3. 3 Open Season North-South Context –Starting point : in recent years, shippers showed increasing interest in capacity from North to South (H- gas) Scope of project –Belgium : increase of capacity from Zeebrugge area and from NL/DE area to France –France : increase of entry capacity at Taisnières –Netherlands : increase of exit capacity at 's Gravenvoeren

4. 4 Open Season North-South Process –Belgium-France : co-ordinated Open Season binding commitments obtained on both sides of sufficient duration subscribed capacity consistent on both sides –Netherlands : in the framework of OS 2012 binding commitments obtained and checked –Investment decision subject to approval by all involved parties, involving NRAs where applicable –Regular reporting in GRI NW

5. 5 Open Season North-South However… –Delays in Belgium due to tariff issues –Delays to achieve co-ordinated "green light" from 3 TSOs, including NRAs where applicable –Therefore amendments of contracts necessary in some open seasons… possibly impacting the level of final commitments and investments

6. 6 Open Season North-South Current status –Fluxys and Gastransport Services have notified shippers that the conditions precedent are fulfilled –GRTgaz is finalising amendments to contracts –All 3 TSOs are willing to deliver contracted capacities –Optimisation of investments currently ongoing to best fit market needs –Attention point : increasingly difficult to obtain permits

7. 7 OS Project South-North Context –Project of new LNG terminal in Dunkirk by EDF interconnection with Zeebrugge would benefit the North-West regional market –Potential market interest for firm South-North capacity Scope of project –Creating firm capacity from France to Belgium at Taisnières and/or –New pipeline connecting Dunkirk area to Zeebrugge area, partly in France and partly in Belgium

8. 8 OS Project South-North However… –For new pipeline connecting Dunkirk area to Zeebrugge area tariff for a short interconnection does not fit well in Entry/Exit tariff methodology –Complexity regarding services to be offered products linked to physical flows in Dunkirk area odorisation

9. 9 OS Project South-North Current status –Market interest for LNG terminal in Dunkirk to be finalised soon –Potential market interest for firm South-North capacity CRE and CREG both support open season project… * and request GRTgaz and Fluxys to co-ordinate open season to start soon * Common press release of 3 May 2010

10. 10 Key findings Co-ordination between TSOs – supported by co- ordination between NRAs – is key to achieve successful open season Visibility on tariff and tariff evolution is key for market to invest in long-term contracts Sound regulatory context for investment is key –ensuring balanced risk sharing between TSOs and market –taking into account increasing uncertainty of future gas demand and climate policy