Eneco and GasTerra conclude innovative gas supply contract

31-01-2012

Today, Eneco and GasTerra announced that they have signed an innovative agreement for the supply of natural gas by GasTerra to Eneco. The contract stipulates that the amount of gas supplied each day varies depending on the outdoor temperature and the wind speed in the Netherlands, which enhances Eneco's ability to optimise its gas portfolio and the operation of its gas plants in relation to its wind farms. GasTerra will supply the gas via the virtual trading platform TTF.
 

The contract offers Eneco the possibility to take further steps towards the implementation of two central elements of its gas strategy; the security of a sufficient supply of gas from different sources for its customers and plants and the transition to a sustainable energy supply. Gas plays an important role in the transition to a sustainable energy supply. Eneco recently put the gas-fired power plant EnecoGen on the Maasvlakte near Rotterdam into operation and is the leading player in the field of wind energy in the Netherlands with several wind farms, including the ""Princess Amalia Wind Farm"" in the North Sea. This gas supply contract enhances Eneco's ability to balance the electricity production of its wind farms and gas plants. By linking gas supply volumes to weather conditions, Eneco is also better able to meet its customers' fluctuating demand for gas.

Kees-Jan Rameau, member of Eneco's Board of Management, is pleased that Eneco has again concluded a unique gas supply contract with GasTerra: ‘The supply of Dutch gas by GasTerra that is linked to the temperature and the wind conditions is an important element of our gas portfolio. It ensures that we can actively pursue our strategy aimed at increasing sustainability, part of which is the use of gas plants as a backup facility for wind energy.’

From GasTerra’s point of view, this agreement is in line with the company’s aim to further diversify its product range on the liberalised market for natural gas. The TTF partially owes its development over the past years to GasTerra, which has enabled it to strengthen its valuable role.

In the eyes of Jacob Kielman, Chief Commercial Officer at GasTerra, the contract is a new step towards the expansion and renewal of GasTerra's range of gas market products. ‘During the past year we have introduced several products on the TTF that stimulate trade and offer customers a wider choice to successfully participate on this market. This contract with Eneco demonstrates that our capabilities in this area have not yet been exhausted.’

For further information, please contact:

Cor de Ruijter, spokesperson Eneco, t: +31 (0)88 896 0313 or
Anja Hulshof, spokesperson GasTerra, t: +31 (0)50 364 8826