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The Internal Gas Market: Achievements and Challenges AheadThomas C. Briggs
Vice President for Regulatory Affairs, BP Gas & Power
Athens November 4, 2005
Achievements
• Enactment of new German Energy legislation
• Progress with Entry/Exit transport schemes
• TSO unbundling
• NBP/Zeebrugge trading activities demonstrate the increased interdependency of pan European markets.
Increasingly, market players regard Europe as an interconnected web without borders, rather than discrete Member State markets.
Challenges
• The scope and scale of trading webs must not be limited by implementation of restrictive entry exit regimes.
• Onerous terms and conditions of access, particularly balancing provisions, must be addressed.
• Legacy Transit agreements may inhibit development of the internal market
• Public service obligations, particularly supply security obligations, must be narrowly designed to avoid undue interference with pan-European trade.
Common Obstacle
• Effective TSO unbundling is critical.
• Unless and until the TSO operates as an entity focused solely on increasing transportation efficiency, access problems will not be resolved.
• Divestiture is not required.