Professional Documents
Culture Documents
Vision
Core Values
Strategy
Mission
Table of Contents
Energy is a broad and complex term. All our stakeholders deal
CEOs Message
Management Information
Reading Guide
7
11
Outline in Figures
17
19
Report on Activities
23
Market Trends
23
25
27
Overseas Sales
30
84
Miscellaneous 86
67
15
86
88
Procurement 31
Transmission 36
European Legislation
36
Dutch Legislation
39
Risk Management
41
43
Stakeholder Dialogue
44
Green Gas
49
51
Innovation 53
Sponsorship and Advertising
55
58
62
63
CEOs Message
Once again, GasTerra has achieved excellent results. The company
achieved higher turnover levels than last year despite slightly lower
volumes of gas sold due to higher average gas prices. Regardless of
any prevailing market trends, GasTerras excellent performance in
2012 is primarily attributable to the merits of our staff. An expression
of gratitude to everyone is certainly called for.
This made the TTF one of the foremost gas trading points
only bad news for the gas sector, but highly detrimental
be a fossil fuel, just as coal is, but its CO2 emission levels
in Europe.
Gertjan Lankhorst,
CEO GasTerra B.V.
this report.
report.
Gertjan Lankhorst,
11
Management Information
H
CEO
Gertjan Lankhorst
Human Resources
Bart Westmaas
Information Technology
Johan Stbler
Anton Buijs
Commercial Affairs
Jacob Kielman
Board of Management
Heads of Department
Directors
M. Blacquire, Chief Financial Officer
M.W.J. de Wilde
13
D.A. Benschop*
J.D. Bokhoven*
P. Dekker
M.E.P. Dierikx*
J.C. De Groot
15
Reading Guide
Gas
Green
Groningen
17
Outline in Figures
2012 2011
23,381 21,095
Gas Purchases
22,861 20,283
Transmission Costs
505 708
48 48
Net Profit
36 36
Dividend
36 36
13 11
Liquidity Ratio
1.1 1.0
3,734 4,121
216 216
3,518 3,905
83.4 86.7
- The Netherlands
34.8 38.1
- Rest of Europe
48.6 48.6
189 197
1.4 2.3
1.2 1.4
19
Natural Gas
83 billion m3
Solar Power
17 seconds
Sales
Procurement
Volumes
four per cent less than in the previous year. However, the
Small Fields
Export
Sundry Procurement
In 17 seconds
21
Green Gas
Innovation
CSR Policies
Sponsorship
Stakeholder Analysis
23
Natural Gas
83 billion m3
Coniferous
Forest
290.000 km2
Report on Activities
Market Trends
taken offline very rapidly and are the least polluting form
in billion m
2011
2009
20
30
40
50
60
70
80
90
100
25
Nominated and physical volumes per month (in million m3 natural gas, 2008 - 2012)
Liquid Gas
Supply of liquefied natural gas (LNG) also affects gas
markets. European LNG terminal utilisation was low in
2012. LNG originating principally from the Middle East
and Africa was mainly exported to Asia due to pricing
levels. Demand for LNG rose significantly in Japan
because nuclear power stations were decommissioned in
2011 after the Fukushima nuclear disaster. Australia is also
expected to become a more prominent LNG exporter in
the years ahead. The USA is investigating options to
export LNG in response to large-scale shale gas
production levels. This gas will probably also be exported
to Asia given current pricing levels.
21,000
20,000
19,000
18,000
17,000
16,000
15,000
TTF
14,000
13,000
12,000
11,000
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2008
2009
nominated volume
2010
physical volume
2011
2012
27
Traded and physical volumes per month (in million m3 natural gas, 2008 - 2012)
19,000
18,000
17,000
16,000
15,000
14,000
13,000
12,000
11,000
10,000
9,000
170,000
160,000
150,000
140,000
130,000
120,000
110,000
100,000
90,000
80,000
70,000
8,000
60,000
7,000
50,000
6,000
40,000
5,000
30,000
4,000
20,000
3,000
10,000
2,000
1,000
traded volume
0
2008
traded volume
2009
2010
physical volume
2011
2009
2010
physical volume
2011
2012
2012
29
Natural Gas
83 billion m3
Road
Vehicles (NL)
6-year
fuel supply
Energy Companies
(see p. 49 e.v.).
83 billion m
of natural gas =
6-year supply of fuel
for all road vehicles
in the Netherlands
3
Industry
31
Eni Arbitration
Overseas Sales
Procurement
in billion m3
2012
2011
The Netherlands
34.8
38.1
Belgium
4.7
4.7
France
6.1
6.7
Germany
19.3
18.8
Italy
8.2
7.1
UK
9.6
10.6
Switzerland
0.7
0.7
Total
83.4
86.7
48.6
48.6
33
Shale Gas
Sundry Procurement
sources mentioned.
TTF. Prices at this virtual trading point set the prices for
VSS
Small Fields
extraction.
35
Natural Gas
83 billion m3
Food
1 billion people
on these scenarios.
Climate Studies
A portion of the demand for gas is temperature
dependent. In order to guarantee its contractual supply
obligations, GasTerra evaluates its planning with respect
to various climate scenarios. In doing so, it bases its
studies on pre-defined, standard climate scenarios
One billion
people
37
Balancing
Transmission
European Legislation
points.
Tariffs
in this respect.
levels on the TTF. GasTerra only pays for entry costs when
for GasTerra.
Investment Procedures
known.
unnecessary investments. In the Netherlands, the openseason procedure has been adopted whereby private-
39
Financial Regulation
Legislative Streamlining
models.
Dutch Legislation
has been met with great interest and trade on the TTF
may affect the role of gas in the future energy supply. For
level reductions.
applicable to GasTerra.
Market Competition
In 2011, the Netherlands Competition Authority (NMa)
41
Natural Gas
83 billion m3
Work
2.2 billion people
Risk Management
Review
business controls.
issues:
Price Risks
costs are closely related to gas and oil prices. These gas
Business Controls
43
Consolidation
cycle.
very closely.
Borrowing Requirements
Ecological interests arise from the fact that gas is the least
Governance
on its website.
and Groningen.
Objectives in 2012
45
Stakeholder Dialogue
Businesses maintain relations with countless groups
dialogue.
in this respect.
NGO's
NMa/DTe
Media
Government, politicians,
parliamentaries
Environment
Trade
organizations
Customers
Shareholders
Producers &
suppliers
Personnel
Community
Investments
Security of Supply
and Delivery
Supply Chain
Management
Accountability
Compliance/
Competition Law
Energy Transition,
Research and
Development
Tangible Issues
Financial Results/
Impact on Natural
Gas Revenues
Gas 1
Gas 2
Gas 3
Gas 4
Gas 5
Green 1
Green 2
Green 3
Groningen 1
Groningen 2
x
x
x
x
x
49
Natural Gas
83 billion m3
Wind Turbines
24.000 turbines
Green Gas
in 2012.
Suiker Unie
over the next few years will grow rapidly. To help promote
51
Greenchoice
Certification
of these conditions.
53
years now, the PDG and the Russian natural gas company
Innovation
and innovation.
other countries.
Fuel Cells
Dutch Gas.
into natural gas mains there since 2007. Results for this
55
Natural Gas
83 billion m3
Solar panels
3100 m2
Sponsorship
million on sponsorship.
and Hooghalen.
Sponsorship of the premier division basketball club
57
on our website.
Borders.
Advertising
As part of this campaign, people from various backgrounds explained how they are part of the solution in
59
New-Style Working
p. 61).
average age was 52.5. One change took place within the
development.
25-29
30-34
35-39
40-44
25
20
15
10
45-49
Staff Recruitment
50-54
55-59
60-65
>65
10
15
20
25
30
35
40
Entering
employment
4
Leaving
employment
9
Changing
job position
18%
External
secondment
3
Absenteeism
percentage
1.4
Absenteeism
rate
1.2
Number of
accidents
0
61
Employee Satisfaction
remain in force.
survey has been held every other year. In 2012, this survey
of 7.5.
scheme.
this agreement.
63
Only once the information has been made public, e.g. via
(see p. 38).
Whistleblower Scheme
unfair treatment.
listed below:
Anti-Bribery and Corruption Procedures
(see p. 45). The building has also been laid out for new-
gift, what sort of gift this may be and what it may cost.
Footprint Compensation
unemployed.
Response
found on p. 90.
67
68
69
70
71
68 | GasTerra annual
Jaarverslag
accounts
2012 2012
69
in millions of Euros
Assets
in millions of Euros
note
2012 2011
Fixed assets
- tangible fixed assets
(1)
36.6 32.9
Current assets
note
Net turnover
(5)
Cost of sales
(6)
3,437.9 3,512.8
2012 2011
23,381.4 21,095.0
-/-23,366.4 -/-20,991.0
15.0 104.0
Gross profits
(2)
- receivables
Operating expenses
(7)
-/-63.6 -/-60.0
259.2 575.2
3,733.7 4,120.9
Total
-/-48.6 44.0
Operating profit
Net financial income and expenses
(8)
96.6 4.0
Liabilities
Shareholders equity
(3)
Current liabilities
(4)
216.0 216.0
3,517.7 3,904.9
Total
3,733.7 4,120.9
Taxation
48.0 48.0
(9)
-/-12.0 -/-12.0
Results after tax
36.0 36.0
70 | GasTerra annual
Jaarverslag
accounts
2012 2012
71
in millions of Euros
Cash flow from operating activities
2012 2011
Operating profit
-/-48.6 44.0
9.4 7.8
74.9
1,035.3
-/-387.2 -/-191.5
-/-351.6 895.6
98.0
11.9
-/-12.0
-/-12.0
exchange contracts.
-/-1.4
-/-7.9
84.6 -/-8.0
General
Adjustments for
Foreign currencies
to improve comparison.
Fixed assets
-/-13.1
-/-11.3
0.0 -/-270.0
-/-36.0 -/-36.0
259.2 575.2
575.2 4.9
72 | GasTerra annual
Jaarverslag
accounts
2012 2012
73
Current assets
Current liabilities
Net turnover
Receivables
turnover.
profit or loss.
Pensions
(reporting standard).
provided.
Cost of sales
GasTerra during the year has been set such that GasTerra
the shareholders.
74 | GasTerra annual
Jaarverslag
accounts
2012 2012
75
Operating expenses
In millions of Euros
Equipment
Assets under construction
Total
Book value
Investments
Depreciation
Book value
1.4
7.6
Purchase value
Cumulative depreciation
In millions of Euros
as on 31 Dec. 2012 as on 31 Dec. 2012
Corporation tax
Equipment
64.1 35.1
Total
71.7 35.1
7.6 -
31 Dec. 2011
3,351.3 3,167.1
Trade receivables
Taxation
- 325.9
86.6 19.8
Total
3,437.9 3,512.8
76 | GasTerra annual
Jaarverslag
accounts
2012 2012
77
Unappropriated profit
Issued capital
In millions of Euros
36.0
Financial instruments
General
follows:
basis or otherwise).
40%
25%
25%
10%
-/- 36.0
36.0
36.0
Liquidity risk
To limit its liquidity risk GasTerra has at its disposal a
instruments.
Credit risk
In millions of Euros
31 Dec. 2012
31 Dec. 2011
1,798.8
1,004.7
2,817.6
871.7
15.1
14.3
9.9
1.7
Other payables
688.6
0.5
199.1
0.5
Total
3,517.7
3,904.9
Market value
counterparty.
78 | GasTerra annual
Jaarverslag
accounts
2012 2012
79
Estimated market
In millions of Euros
value 2012
value 2011
Book
value 2011
0.6 0.0
1.0
0.6 0.0
-4.2 0.0
2.2 0.0
-11.9 0.0
0.0
-16.7 0.0
9.0 0.0
2012
2011
23,262.7
20,978.7
118.7
116.3
Total
23,381.4
21,095.0
Gas sales
2012
2011
The Netherlands
8,888.1
8,667.1
Rest of Europe
14,374.6
12,311.6
sheet
Total
23,262.7
20,978.7
these renegotiations.
In millions of Euros
2012
2011
Gas purchases
22,861.0
20,283.1
Transport costs
505.4
707.9
these agreements.
Total
23,366.4
20,991.0
80 | GasTerra annual
Jaarverslag
accounts
2012 2012
81
Auditors fees
In millions of Euros
2012
2011
During the financial year, the following fees charged by KPMG Accountants N.V. were charged to the company, pursuant
16.6
16.0
1.8
1.4
Pension expenses
6.1
3.9
32.5
34.5
6.6
4.2
Total
63.6
60.0
Net financial income and expenses (8)
Amounts in Euros
Other
203,100 25,824
11,000 -
3,000 -
2011
Tax advice
Interest income
98.0
11.9
Financial income
98.0
11.9
Accountants N.V.
205,632 22,149
In millions of Euros
2012
Other
- 154,800 - 211,015
- - - 216,632 176,949
206,100 236,839
Interest charges
-/-1.1
-/-7.2
Financing costs
-/-0.3
-/-0.7
Financial expenses
-/-1.4
-/-7.9
Net position
96.6
4.0
Number of employees
2012
2011
Regular remuneration
317,652
305,474
25.0%).
Bonus
75,162
74,271
73,695
65,066
to market levels.
Affiliated companies
82 | GasTerra annual
Jaarverslag
accounts
2012 2012
83
Shareholder structure
Board of Management
in percentages, 2012
J.C. De Groot
P. Dekker
M.E.P. Dierikx
J.M. Van Roost
She
ll N
ed
J.D. Bokhoven
.V.
dB
n
la
er
25
D.A. Benschop
State
10%
25
Ess
oN
ed
er
la
nd
B.V
.
EBN
40 %
B.V.
84 | GasTerra Annual
Jaarverslag
report
2012
2012
85
Annual Accounts
A.J. Boekelman
I.J. Kalmijn
Staffing Matters
Self-Evaluation
Decisions
annual basis.
2013.
change.
approval.
Financial Officer.
financial year and for the results that they achieved. The
Audit Committee
Risk Management
D.A. Benschop
J.D. Bokhoven
Personal Details
J.C. De Groot
P. Dekker
M.E.P. Dierikx
J.M. Van Roost
A.P.N. van Veldhoven
86 | GasTerra Annual
Jaarverslag
report
2012
2012
87
Other information
Independent auditors report
Auditors responsibility
Opinion
2012, the company profit and loss account for the year
material misstatement.
Managements responsibility
error.
J. F. G. Morsink RA
88 | GasTerra Annual
Jaarverslag
report
2012
2012
89
Work undertaken
and
Introduction
and
Reporting criteria
and
Observations
Without affecting the conclusions of our assurance re-
Report.
Assurance standard
evidence;
KPMG Sustainability
findings.
Conclusion
and
is not fairly
91
GasTerra B.V.
Colophon
Postal address
Publishes by
GasTerra B.V.
9700 AL Groningen
The Netherlands
Graphic design
studio Tineke Wieringa,
Visitors address
Haren
Stationsweg 1
9726 AC Groningen
Text contributions
The Netherlands
Castel Communicatie,
Groningen
Department
Communications
Photography
00 31 50 364 88 26
Reyer Boxem
communicatie@gasterra.nl
www.gasterra.com
Imelda Weel
and others
Production
Lecturis, Eindhoven (printing)
Hexspoor, Boxtel (binding)
Paper
FSC gecertified paper,
CO2 neutral
www.gasterra.com
Appendix 1
Background information on directors and
members of the Board of Supervisory Directors
GasTerras Directors
Under its articles of association, GasTerra is managed by a Chief Executive Officer (CEO), and three other directors with specific
areas of responsibility. They are appointed for an indefinite term. The general directors are general holders of a power of attorney;
they fulfil their duties under the responsibility of the CEO.
The GasTerra Board of Directors is composed of the following members:
Gertjan Lankhorst
Chief Executive Officer
Gertjan Lankhorst was born in Amsterdam on 22 December 1957. He worked at the Vrije Universiteit in Amsterdam from 1982 to
1986. In 1986, he took up a position at the Ministry of Economic Affairs as a member of the General Economic Policy Department.
This was followed by various other positions at the Ministry including Director of Oil and Gas (1996-1999), Director of Competition
(1999-2003), and Director-General of Energy (2004-2005).
On 1 September 2006, he was appointed Chief Executive Officer of GasTerra.
Education
Vrije Universiteit Amsterdam, General Economics (graduated in 1984)
Authority
Director, independently authorised
Maurice de Wilde, RC
Chief Financial Officer effective 15 January 2013
Maurice de Wilde was born in s-Hertogenbosch on 20 September 1971. He started working for Shell in 2000, where he fulfilled
several positions. Amongst other positions, Maurice de Wilde worked as Finance Manager in Oman and as Asset Finance Manager
for the Nederlandse Aardolie Maatschappij (NAM). In his last position, he worked as a financial director in Gabon starting in 2009,
where his responsibilities included finance, IT and procurement. Prior to working for Shell, he worked at PriceWaterhouseCoopers
and Lyondell Chemical.
Education
Erasmus University Rotterdam, Business Economics (graduated in 1995) and Register Controller (graduated in 1999)
Authority
General holder of a power of attorney
1 | GasTerra annual report 2012 | Background information on directors and members of the Board of Supervisory Directors
Jacob Kielman
Chief Commercial Officer
Jacob Kielman was born in Winschoten on 30 December 1951. From 1973 to 1974, he worked at the Cartonfabriek Union in Oude
Pekela as an executive assistant. From 1977 to 1981, he was a staff lecturer at the Stichting Opleiding Sociale Arbeid (social work
training institute), for upper secondary and higher professional educational programmes. He then took a management consultancy
position at the PTT, covering the Groningen telephone district.
In 1983, Jacob Kielman was hired by Gasunie, where he started out as a Capital Markets staff assistant in the Treasury section, and
later became the head of the Capital Markets, Foreign Currency and Money Market department. In 1989, he was appointed project
manager for Gas Purchases. From 1990 to 1996, he was Head of Gas Sales to Industry, and then head of Treasury and Economics.
On 15 February 2000, he was named Director of Gas Purchases. He later became director of Long-term Futures Markets at
GasTerra. He has been Chief Commercial Officer since 2010.
Education
University of Groningen, Business Economics (graduated in 1977)
Authority
General holder of a power of attorney
Anton Broenink
Chief Operating Officer
Anton Broenink was born in Hengelo on 26 May 1957. In May 1981, he joined Esso Nederland B.V. (ExxonMobil), where he held
a variety of positions in the Netherlands and abroad. From 1981 to 1983, he worked as an engineer in the Logistics Department
of Esso Benelux, and then at the Esso refinery in Rotterdam. He then worked from 1984 to 1986 as a senior engineer at Exxon
Research and Development, and at Essos Flexicoking Unit in Rotterdam. During the period from 1986 to 2002, he held a vast range
of positions, ranging from Supply Operations Manager to European Optimisation Advisor, as well as managing several projects. In
2002, he was appointed as Gas Marketing Manager in the ExxonMobil Gas Marketing department.
On 1 June 2007, Anton Broenink joined GasTerra as a member of the management team.
Education
University of Twente Enschede, Chemical Engineering (graduated in 1981)
Authority
General holder of a power of attorney
GasTerras Directors
Name
Title/Position Authority
Date of appointment
Gertjan Lankhorst
1 September 2006
Independently authorised
Maurice de Wilde, RC
15 January 2013
Jacob Kielman
1 July 2005
Anton Broenink
1 October 2007
2 | GasTerra annual report 2012 | Background information on directors and members of the Board of Supervisory Directors
Date of appointment
C.W.M. Dessens
Delegate member
Term of office
D.A. Benschop
Delegate member
J.D. Bokhoven
Delegate member
P. Dekker
M.E.P. Dierikx
Delegate member
J.C. De Groot
Delegate member
C.W.M. Dessens
Stan Dessens was born in Vlaardingen on 30 October 1947. He is the chairman of the Board of Supervisory Directors and the
College of Delegate Supervisory Directors. In 1974, he started working at the Ministry of Economic Affairs, at the DirectorateGeneral for Industry and for Energy. From 1988 to 1999, he was the Director-General for Energy. In 1999, he was appointed as
Director-General for Law Enforcement at the Ministry of Justice. He has been self-employed since 2005.
Mr Dessens has held various board positions, including chairman of the Stichting Aanpak Voertuigcriminaliteit (AVc) [anti-vehicle
crime foundation], board member of the Stichting Meld Misdaad Anoniem [foundation for reporting crime anonymously], and
chairman of the Executive Board of the CATO [CO2 Capture, Transport and Storage] project..
Education
University of Leiden, Physics (graduated in 1972) and Law (graduated in 1974)
D.A. Benschop
Dick Benschop was born on 5 November 1957 in Driebergen. He is a Delegated Supervisory Director of GasTerra. He has held
various positions in the Dutch Lower House and the PvdA [Labour Party]. In 1994, he set up his own consulting firm. Between 1998
and 2002, he returned to politics as State Secretary of Foreign Affairs during the second term of Wim Koks cabinet.
In 2003, he took a position at Shell in the European gas company, Shell Energy Europe. In early 2006, he moved to Kuala Lumpur to
head the Gas & Power business (LNG and GTL) in Malaysia. In 2009, he became Vice President of Strategy for the Royal Dutch Shell
Group. On 1 May 2011, he became President-Director of Shell Nederland, and Vice-President of Global Gas Market Development.
Education
Vrije Universiteit Amsterdam, History (graduated in 1984)
3 | GasTerra annual report 2012 | Background information on directors and members of the Board of Supervisory Directors
J.D. Bokhoven
Jan Dirk Bokhoven was born on 4 March 1957 in Rotterdam. He is a Delegated Supervisory Director of GasTerra. From 1982
through 2001, he held various positions for Conoco, Veba, Clyde and other organisations. In 2001, he joined EBN as Technical
Manager. Since 2007, he has been Chairman of the Board at EBN and as such, has final responsibility for all of EBNs activities.
Education
Delft University of Technology, Petroleum Production (graduated in 1983)
P. Dekker
Pieter Dekker was born in Wassenaar on 16 July 1950. He is a member of GasTerras Board of Supervisory Directors. Since 1977,
he had held various positions within Shells natural gas organisation, including posts in London and Calgary. In 1997, he returned
to the Netherlands and was responsible for Shells participation in the Nederlandse Gasgebouw [Dutch gas sector], with a specific
focus on the natural gas sales activities. He is also a member of the Board of Supervisory Directors of the Nederlandse Aardolie
Maatschappij (NAM) and responsible for Shells participation in a gas company in Greece, and the wind energy project NoordzeeWind in the Netherlands.
Education
Delft University of Technology, Applied Physics (graduated in 1975)
M.E.P. Dierikx
Mark Dierikx was born on 5 June 1953 in Vlissingen. He is a Delegated Supervisory Director of GasTerra. After completing his
studies, he spent several years working in marketing at Esso Chemicals.
After that, he chose a career at the Ministry of Economic Affairs. While there, he was originally active in the field of Dutch industry
and technology policy, and from 1992, in Foreign Economic Relations, and from 1994, as Director of Economic Cooperation and
Export Policy. In 1996, he made the transition to the Ministry of Foreign Affairs as the Director for Asia and Oceania, and was also
appointed Deputy Director of Regional and Country Policy. In 2000, he once againreturned to the Ministry of Economic Affairs as
exempt Deputy Director-General of Foreign Economic Relations. In 2004, Mr Dierikx joined the Ministry of Transport and Public
Works as Director- General for Water. From 1 January 2008 to 1 July 2011, he was Director-General of Aviation and Maritime
Affairs. On 1 July 2011, Mr Dierikx was appointed Director-General for Energy, Telecom and Competition at the Ministry of
Economic Affairs.
Education
Vrije Universiteit Amsterdam, Organic Chemistry, with biochemistry and economics as subsidiary subjects (graduated in 1979)
J.C. De Groot
Jos de Groot was born on 22 May 1958 in Groningen. He is a member of GasTerras Board of Supervisory Directors. After
graduating, he held various positions within the Ministry of Finance. In 2002, he moved to the Ministry of Economic Affairs, where
he became Director for Energy Production. Since 2006, he has been Director for the Energy Market and is responsible for market
operations and security of supply within the energy sector.
Education
State University of Groningen, General Economics (graduated in 1982)
4 | GasTerra annual report 2012 | Background information on directors and members of the Board of Supervisory Directors
5 | GasTerra annual report 2012 | Background information on directors and members of the Board of Supervisory Directors
Appendix 2
Ancillary positions held by GasTerra directors
and supervisors
Board of Directors
Name Title/Position
G.J. Lankhorst
Vice-President, Eurogas
Co-chairman, Energy Working Group and co-chairman, Project Delta of the Joint
J.E. Kielman
Preservation Society)
B.A. Westmaas
J.R.L.W. Stbler
A.J.P. Buijs
Member, Work Field Advisory Committee for the Hanzehogeschool Institute for
1 | GasTerra annual report 2012 | Ancillary positions held by GasTerra directors and supervisors
Appendix 2
Ancillary positions held by GasTerra directors
and supervisors
Supervisors
Name Title/Position
Stan Dessens
Board member, Stichting Meld Misdaad Anoniem (Foundation for Reporting Crime
Anonymously)
Member, Board of Supervisory Directors of the National Air and Space Laboratory (NLR)
Board member, Avond van Wetenschap en Maatschappij (Evening for Science and Society)
Member, Advisory Council for the Clingendael International Energy Programme (CIEP)
Member, Advisory Council for the Clingendael International Energy Programme (CIEP)
Pieter Dekker
2 | GasTerra annual report 2012 | Ancillary positions held by GasTerra directors and supervisors
Name Title/Position
Mark Dierikx
Jos De Groot
Member, Advisory Council for the Clingendael International Energy Programme (CIEP)
3 | GasTerra annual report 2012 | Ancillary positions held by GasTerra directors and supervisors
Gas
Gas
Volume (billion m3) 83
Lower Heating Value (LHV) (MJ/m)
31.65
35.17
2.6 x 1012
7.3 x 1011
2.9 x 1012
8.1 x 1011
50%
kcal
3.6 x 1011
kcal MJ kWh
1
0.0041868 0.001163
MJ
238.8 1 0.2778
kWh
859.8 3.6
Solar irradiation
Natural Gas
83 billion m3
Solar Power
17 seconds
Global Average
510 million
173 x 109
2.9 x 1012
Dutch Average
In 17 seconds
4.2 x 106
2.9 x 1012
Natural Gas
83 billion m3
Coniferous
Forest
290.000 km2
Biomass
Wood
SG (ton/m3) 700
Lower Heating Value (LHV), dry matter (MJ/kg)
19.5
Non-Renewable Forest
The energy content of
83 billion m of natural gas
is the same as the amount
of energy stored in
sustainably managed
coniferous forest covering
an area comparable to 80%
of the size of Germany.
Renewable Forestry
Annual Renewal (m3/ha) 7.5
Annual Renewal (kg/m2) 0.5
Annual Energy Output (dry matter) (MJ/m2) 10.2
Annual Energy Output (290.000 km2) (MJ)
2.9 x 1012
Sources
www.probos.net/bosdigitaal/html/doc_houtproductie.html
www.avih.nl/pdf/Ecofys-biomassapotentieel.pdf
Road Transport
Natural Gas
83 billion m3
Road
Vehicles (NL)
6-year
fuel supply
Passenger/Goods Vehicles
Fuel Consumption ( 106 L/year)
Approximately 14 billion litres
of fuel is used in
the Netherlands annually
83 billion m3
of natural gas =
6-year supply of fuel
for all road vehicles
in the Netherlands
14,000
33.00
0.46 x 1012
2.6 x 1012
Human Consumption
Natural Gas
83 billion m3
Food
1 billion people
Consumption
Consumption (kcal/day)
2000
3056
Total
World Population
One billion
people
2.9 x 1012
Human Labour
Natural Gas
83 billion m3
Work
2.2 billion people
Home Trainer
10
365
100
7.3 x 1011
Wind Turbines
Natural Gas
83 billion m3
Wind Turbines
24.000 turbines
24,000 offshore
wind turbines
5
35%
15,000
3.6 x 1011
Solar Panels
Natural Gas
83 billion m3
Solar panels
3100 m2
Solar Panels
1
14%
850
119
3.6 x 1011
Appendix 4
Governance
GasTerra BV is a private limited company with registered offices in Groningen, the Netherlands. The company was founded on
1 July 2005 when NVNederlandseGasunie was split into a transmission system operator (TSO) and a trading company. In doing so,
all the infrastructure (gas mains network) and all transmission-related activities remained at Gasunie, while all gas trading activities
were continued within the newly formed GasTerra.
GasTerra BVs authorised share capital is 180million split into forty thousand shares each valued at 4,500. All shares have been
subscribed, fully paid and registered, and can only be transferred by unanimous approval of the AGM. Shares are held by the state
(10%), EBNBV (40%), ShellNederlandB.V. (25%) and EssoNederlandB.V. (25%). Consequently, fifty percent of shares are indirectly
publicly owned, i.e. state-owned, and fifty percent are private-sector owned, i.e. two multi-national petroleum companies. This
form of public-private partnership (PPP) has been a major feature of the Dutch gas industry since 1963 when N.V.Nederlandse
Gasunie was founded and the Groningen concession was awarded to NAM (Nederlandse Aardolie Maatschappij).
As is common practice, the AGM appoints the companys board of directors. In GasTerras case, under its articles of association, the
board is formed by one person, the chief director or Chief Executive Officer (CEO). The CEO is appointed following a nomination by
the Board of Supervisory Directors. This nomination has to be approved by the Minister of Economic Affairs.
In addition to a CEO, GasTerras board of directors consists of several directors/general holders of a power of attorney who are
appointed following approval by the AGM. These include a Chief Financial Officer (CFO), a Commercial Director and a Director of
Strategy & Optimisation. CEO and directors salaries and other benefits are set by the Board of Supervisory Directors.
Only the CEO is independently authorised to represent the company. Two general holders of a power of attorney are jointly
authorised to legally represent the company.
GasTerras board of directors meets weekly or more frequently, if so required. In addition to the CEO and the general holders of a
power of attorney, managers of the Legal Affairs, Communications & Public Affairs, P&O and IT departments attend board
meetings.
The Board of Supervisory Directors monitors the board of directors activities. Since 2007, this Board has comprised eight members,
one of whom is directly appointed by the Minister of Economic Affairs.
The articles of association determine that important GasTerra decisions be approved by the Board of Supervisory Directors or the
College of Delegate Supervisory Directors. This College of Delegate Supervisory Directors is a statutory company body. The College
is formed by members of the Board of Supervisory Directors and consists of five supervisory directors including the member
appointed by the Minister of Economic Affairs, Agriculture and Innovation.
The College of Delegate Supervisory Directors supervises policy-making and GasTerras general affairs, and assists the board of
directors in a close advisory capacity.
Appendix 5
GRI Table for publication in sustainability report
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Fully
Fully
Organisational Profile
2.1
Fully
2.2
Fully
2.3
Fully
Fully
2.5
Fully
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
2.6
Fully
Appendix4: Governance
2.7
Fully
p. 2730
Annual Report: Overseas Sales, p. 30,31
2.8
Fully
2.9
Omitted
2.10
Omitted
Report Parameters
3.1
Fully
information provided.
3.2
Omitted
3.3
Omitted
3.4
Fully
29-03-2012
Annual
Annual Report: Response, p. 64
Annual Report: GasTerraBV, p. 90
or its contents.
3.5
Fully
3.6
Omitted
3.7
Fully
3.8
Profile Description
3.9
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
GasTerra.
Omitted
Omitted
in the report.
3.12
Fully
Fully
or organisational oversight.
4.2
Fully
Fully
members.
Profile Description
4.4
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Fully
4.5
Omitted
reported.
Fully
Omitted
reported.
Fully
p. 62,63
Fully
Appendix4: Governance
Fully
Omitted
Profile Description
4.12
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
reported.
Partially
4.14
Fully
4.15
Fully
Fully
Fully
4.17
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Economic
EC1
Partially
Omitted
reported.
Fully
obligations.
EC4
EC5
Omitted
reported.
Omitted
reported.
operation.
EC7
Partially
Omitted
Omitted
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Environmental
EN1
Omitted
EN2
Omitted
input materials.
EN3
reported.
Fully
energy source.
EN4
Omitted
source.
EN5
reported.
Omitted
EN7
reported.
Fully
p. 43,44
Omitted
Omitted
EN9
Omitted
withdrawal of water.
EN10
Omitted
Profile Description
EN11
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
Omitted
EN14
Omitted
Omitted
Omitted
by weight.
EN17
reported.
Omitted
by weight.
EN18
Omitted
Omitted
EN20
Omitted
Omitted
EN22
Omitted
EN23
Omitted
EN24
Omitted
Profile Description
EN25
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
been reported.
Fully
EN27
Omitted
been reported.
Omitted
been reported.
Omitted
been reported.
Omitted
been reported.
Fully
Fully
Omitted
reported.
major operations.
LA4
Fully
Profile Description
LA5
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
reported.
in collective agreements.
LA6
Omitted
reported.
Fully
Omitted
reported.
Omitted
reported.
Omitted
reported.
reported.
Omitted
reported.
Fully
Omitted
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Social: Society
SO1
Fully
Omitted
been reported.
Fully
SO4
Omitted
SO5
Fully
No instances of corruption
have been detected.
SO6
Omitted
by country.
SO7
been reported.
their outcomes.
SO8
Omitted
Profile Description
Reported
Page Reason for Omission/Partial
(fully/partially/omitted) Reporting
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
Omitted
data.
PR9
Omitted
Appendix6
Certification Documents
GasTerra aims to procure exclusively green gas, the origin of which can be certified to be green. GasTerra has stipulated four
conditions together with financial advisory firm KPMG. GasTerra is prepared to procure gas labelled as greengas if its producer or
the production facility satisfies one or more of these conditions:
1. REIS subsidy granted to production facility
2. REIS subsidy granted for production
3. Vertogas or Decra certificate awarded
4. NTA8080 certificate
These conditions are discussed below in more detail.
4. NTA8080 Certificate
Nederlandse Technische Afspraak (NTA) [Dutch Technical Agreement] 8080 stipulates the conditions for sustainable biomass for fuel
production purposes. With an NTA 8080 certificate, producers, processors or traders can demonstrate that the biomass produced,
processed or traded meets international sustainability criteria. A certificate can be obtained from the NTA 8080 organisation subject
to audit. Certification is valid for five years, but may also be revoked annually subject to interim assessments. GasTerra can verify
whether a production facility has been NTA 8080 certified by consulting a register at www.duurzame-biomassa.org.
Appendix 7
Overview of knowledge, education and
innovation projects
De Jonge Onderzoekers
Stichting De Jonge Onderzoekers Groningen [The Young Researchers Foundation, Groningen] stimulates children ages 6 to 18 to
learn more about technology and science. GasTerra supported this foundation in 2012 to help teach children of 8 years old and
older about renewable and non-renewable energy, and provided technical materials such as building kits. According to reports from
the foundation, the technical building kits were used intensively last summer.
www.dejongeonderzoekers.nl
weCARE
The weCARE project was a joint competition between the sixth-form classes of two secondary schools in Groningen and Haren,
who, for one year, competed with one another to see which class could save the most energy at school. weCARE stands for: we
Create Awareness. Reduce Energy. Due to its success, the Energy Valley Topclub (in which GasTerra is actively involved) decided to
create an even greater follow-up to this successful project, under the name Energy Challenges. More than ten secondary schools
from the Energy Valley will compete in this Challenge starting in late 2012. Measuring equipment was installed in the school
buildings to map out the energy flows. A special focus will be placed on energy in the schools. The goal of the project is, on the
one hand, to raise awareness about energy consumption among young people, and on the other hand, to realise energy savings at
the schools, primarily through a change in habits when it comes to energy consumption.
www.energyvalleytopclub.nl
NRG Battle
Sponsored by GasTerra, the NRG Battle is an annual competition where teams of students work on innovative solutions to
companies energy problems. In addition to being a think-tank from which great ideas emerge, the Battle is also an effective means
of recruitment and selection for companies operating in the energy sector. During the NRG Battle-Europe 2012 Edition, student
teams worked on the solution to an energy problem submitted by business. GasTerra asked the talented young people to think
about the question of how gas can play a role in the coming years in addition to renewable sources. Also, how the energy sector in
the Netherlands and Europe can ensure that the rest of the world also does its part to reduce CO2 emissions. The teams presented
1 | GasTerra annual report 2012 | Overview of knowledge, education and innovation projects
their ideas during three preliminary rounds. The five best teams in each preliminary round competed with one another for first prize
on 20 November 2012 during the Energy Delta Convention. Team FUJIFILM was the winner. In 2012, an NRG Battle-World Edition
was also held for the first time during the World Gas Conference.
Watt Nu?
Watt Nu? is a weekly television programme on RTLZ in which famous (and not-so-famous) experts discuss a sustainable future for
energy in the Netherlands. Policymakers, captains of industry and renowned scientists talk about the measures we must take in
order to achieve this sustainable energy future. The objective is to create broad public awareness about the topic of energy
transition and the energy transition model.
www.wattnu.nl
2 | GasTerra annual report 2012 | Overview of knowledge, education and innovation projects
3 | GasTerra annual report 2012 | Overview of knowledge, education and innovation projects
High-Efficiency Eco-Boilers
The HEe boiler is a boiler that produces both heat and electricity. GasTerra has been involved in the development of the HEe boiler
via the Smart Power Foundation. GasTerra set up this foundation together with several manufacturers. The foundation focuses on
the development of the HEe boiler, and tackles bottlenecks relating to system installation, regulation and subsidies.
www.smartpowerfoundation.nl
4 | GasTerra annual report 2012 | Overview of knowledge, education and innovation projects
temporarily not producing enough electricity (during the night or on cloudy days), the fuel cells will quickly respond. Similar pilot
projects are currently being prepared for 2013 and 2014 in Heerhugowaard, the Veenkolonin in Groningen and Hooghalen in the
province of Drenthe.
Green gas
Via the Nieuw Gas platform (New Gas Platform) and the Stichting Groen Gas Nederland (Dutch Green Gas Foundation), GasTerra is
involved in the development, demonstrations and promotion of the uses of green gas. In collaboration with Energy Valley and the
company Proces, a study was conducted in 2012 into the biomass gasification of roadside grass clippings. Roadside grass clippings
have shown to be extremely suitable as biomass for the production of green gas. In cooperation with Proces, the possibilities for
conducting follow-up studies in the EnTranCe experimental energy test centre are now being examined.
5 | GasTerra annual report 2012 | Overview of knowledge, education and innovation projects
6 | GasTerra annual report 2012 | Overview of knowledge, education and innovation projects
Appendix 8
Summary of Sponsorship and Donations 2012
Sponsorship
NAME/ORGANIzATION SUBJECT
Forum Groningen
GasTerra Flames
GasTerra Ladiesrun
Hockey season
Groninger Museum
Groninger Museum
Board of Children
NNO
Stadspark Open
Voetbalvereniging De Held
Appendix 8
Summary of Sponsorship and Donations 2012
Donations
NAME/ORGANIzATION SUBJECT
Forestry Commission
Mr W. Kempering
TAM Open
Radio 538
Capella Groningen
FAS Stichting
marathon
Koninklijke Visio (centre for the blind and visually impaired) Attendance by Visio clients of FC Groningen home match
Stichting Voetbalkamp Groningen
Hartstichting
Ziekenhuis)
NAME/ORGANIzATION SUBJECT
Mytylschool Haren
disabilities
Appendix 9
Glossary
Allocation
Assignment of energy volumes to various gas transmission network users.
Balancing
Maintaining gas transmission network in a state of equilibrium.
Biogas
Gas produced by means of waste or manure fermentation, or biomass gasification.
Congestion
A situation in which demand for natural gas is higher than the volume that can physically be transmitted.
Day Ahead
A product offered at virtual natural gas trading points.
EMIR
European Union regulation on OTC derivatives, central counterparties and trade repositories known as the European Market
Infrastructure Regulation.
Energy Transition
Shift from use of fossil fuels to renewable energy sources.
Entry Points
Points at which natural gas is fed into the gas transmission network.
ETS
Abbreviation for Emissions Trading Scheme in which emission rights are traded.
Exit Points
Points at which natural gas is extracted from the gas transmission network.
Footprint
CO2 emission equivalents that relate to an individual or organizations activities.
Groningen Gas
Natural gas from the Groningen gas field containing relatively high levels of nitrogen causing it to have a lower calorific value than
natural gas from other fields. It is for this reason that it is also referred to as low-calorific gas.
GASPOOL
A virtual natural gas trading point in Germany.
Green Gas
Biogas produced with the same characteristics as conventional natural gas.
GTS
Abbreviation for Gas Transport Services, a transmission system operator and subsidiary of Gasunie.
High-Calorific Gas
Natural gas containing relatively low levels of nitrogen causing it to have a higher calorific value than other sorts of natural gas.
Hub
A virtual or actual trading point for a given region where suppliers and customers transfer/trade in gas.
LNG
Abbreviation for liquefied natural gas.
Tangible Issues
Topics affecting accountable business practices.
Multi-Sites
Customers with multiple gas network connections.
NBP
Abbreviation for National Balancing Point, a virtual natural gas trading point in the United Kingdom.
NCG
Abbreviation for NetConnect Germany, a virtual natural gas trading point in Germany.
Network Codes
European codes relating to natural gas transmission, detailing Third Energy Package regulations.
Non-Standard Products
An agreement for which no standardised contract terms & conditions apply.
REMIT
Abbreviation for Regulation in Energy Markets Integrity and Transparency, a sector-specific regulation enacted in 2011.
SBU
Abbreviation for Standard Bundled Unit, a product for contracting natural gas storage.
Shale Gas
Natural gas extracted from dense rocks layers (shale).
Standard Products
An agreement with standardised contract terms and conditions.
Stakeholders
Organizations whose interests may potentially be affected by GasTerras activities or conversely organizations that may themselves
affect GasTerras interests.
TTF
Abbreviation for Title Transfer Facility, a virtual natural gas trading point in the Netherlands.
Within Day
A product offered at virtual natural gas trading points.