1. 1 Open season 2015 11 th IG Meeting 26 th March 2010 Paris

2. 2 Capacities offered GWh/dSouth  NorthNorth  South GRTgaz North  GRTgaz South 160 (100% of incremental capacity +80 GWh/d existing capacity) 160 (80% of incremental capacity) GRTgaz South  TIGF 55 (capacity not allocated during 2013 OS) AND 184 (80% of incremental capacity) 100 (without additional investment : capacity not allocated during 2013 OS) OR 144 (with additional investment : CS at Montpellier) Perthus interconnection : TIGF  Spain 184 (80% of created capacity) 144 (80% of created capacity) Biriatou interconnection : TIGF  Spain 48 (80% of incremental capacity) 48 (80% of incremental capacity)

3. 3 Localisation of the infrastructures

4. 4 Total costs on the French side TIGFGRTgaz Perthus interconnection Perthus-Barbaira pipe : 234 M€ CS Barbaira : 40 M€ Lupiac-Baran pipe : 40 M€ Eridan (pipe, CS and interconnection stations): – 50% of the costs –302 M€ CS Montpellier : 80 M€ Biriatou interconnection Arcangues-Coudure pipe : 110M€ Link GRTgaz South/GRTgaz Noth Bourgogne pipe = 398 M€ European subsidies 74 M€

5. 5 Economic test to validate capacity allocation MidCat Based on the coverage of the investments costs by the revenues generated by the long term commitments collected through the OS 2015 Proposal: validate the investments if 70% or more of the costs are covered Limit scenario for capacity demand: –100% of the capacity offered Spain  France is requested –0% of the capacity offered in the other direction is requested  With the current tariff the economic test for MidCat is not validated : only 44% of the costs are covered  To validate the economic test, an increase of the entry tariff into France of + 50 €/MWh/d/y is needed

6. 6 The same analysis has been done for Biriatou and GRTgaz North  GRTgaz South  With capacity requests in only one direction, the economic test is validated with the current tariff for these two points When applying the economic test at the interconnection between Spain and France, the priority will be given to MidCat over Biriatou Economic test to validate capacity allocation Biriatou and GRTgaz South  North

7. 7 Possible phasing of the OS 2015 – For discussion Shippers active in France would prefer the OS to be organised in 2 steps –Offer and allocation of the 5 product sold in the OS 2013 –Once these 5 products allocated, then offer and allocation of GRTgaz North  GRTgaz South  Would allow shippers to assess whether there is a need for additional supply of the South coming from the North before making long term commitments, or not, for GRTgaz North  GRTgaz South  Would also avoid over-investment Shippers active in Spain would prefer sticking to the rule established in the former information memorandum, i.e. having the 6 products allocated at once  In order not to reveal commercial information before shippers bringing gas from the North  Stakeholder’s views requested

8. 8 Coordination – For discussion The possibility to coordinate requests proposed in the OS 2013 bears the risk that no capacity is allocated at the interconnection Spain  France even if there is enough capacity requested, in case no capacity is allocated between GRTgaz South and GRTgaz North If shippers do not agree with taking this risk, they should raise their concerns

9. 9 Capacity GRTgaz North  GRTgaz South to be offered It is envisaged to offer 160 GWh/d in both directions Decision to be made by CRE in April 2010