11.05.2006
DONG Energy - Gas Release Programme
The merger between DONG, Elsam, Energi E2, Nesa, Copenhagen Energy (electricity division) and Frederiksberg Forsyning (electricity division) - creating a new energy company, DONG Energy - was approved by the EU Commission in March 2006.
In order to relieve concerns raised by the EU Commission regarding the competitive situation on the gas market in Denmark, DONG Energy has committed itself to do a six year Gas Release programme. In the Gas Release there will be an auction of 400 million m3 per year where DONG Energy receives similar gas volumes at one or more of the gas trading hubs in Northern Europe.
DONG Energy has now issued a Preliminary Information Memorandum - the PIM - which contains the basic principles of the "Two-way Gas Release", a new way of doing gas releases and opening up the gas markets in Europe. The PIM is available at www.dongenergy.com.
The first of DONG Energy's gas release auctions will take place on 30 August 2006 and will be an internet auction operated by a third party auction administrator.
In order to inform the potential participants in the gas release auction, DONG Energy will arrange a Gas Release Conference, which will take place on 22 June 2006 in Copenhagen.
For further information, please visit the website of DONG Energy - www.dongenergy.com or contact Senior Vice President Jan Ingwersen at jin@dong.dk or on phone no. +45 4517 1022.