GASELYS

Gaselys is a young company, with an outstanding track record, and great expectations.

It was created in June 2001 by Gaz de France (51%) and Société Générale (49%) to trade on the gas and electricity markets in Europe, so as to create value from the deregulation movement that led to the development of marketplaces (gas hubs, power exchanges...).

Strategic excellence

Gaselys's strong ambitions are based on the solidity and performance of its business model: among European energy traders, Gaselys uniquely combines the expertise of the industrial and financial spheres.

This model makes it one of the very few players that covers all the aspects of the natural gas and power trading activity:

The company has chosen the financial status of Investment Services Provider, which implies stringent monitoring of risk control by the French banking authorities.

Company growth

In only four years of full activity, Gaselys has become one of the very top players on European natural gas hubs and has built a recognized position on the French and UK electricity markets.

On the Zeebrugge hub, Gaselys's traded volumes represent today one quarter of the total spot and curve together, while on the UK's NBP, Gaselys is one of the top ten.

In parallel, Gaselys is developping strong positions on the North Western continental power markets and on the European Carbon emissions exchanges.

Its overall traded volumes have risen significantly since 2002 - 50% per year on average.

Its team, starting with 30 employees, has grown rapidly to reach 160 in 2006. This growth is to follow the same upward trend in the coming year.

Corporate involvement

Gaselys is actively working at the development of a dynamic and efficient European gas market.

It has been an early promoter of the development of emerging gas hubs such as the French PEGs, the Dutch TTF and the German BEB and is now one of their main participants.

As a member of the European Federation of Energy Traders (EFET), Gaselys is committed to establishing common trading rules and good practices by participating in the main working groups (gas, power, legal, hub development committees).

Gaselys is constantly promoting understanding and acceptance of gas traded markets through its participation in the major European energy conferences (Emart, European Autumn Gas Conference, Flame, Sparks & Flames...) and the publication of technical articles and economic research analyses.

Business performance

Based on its physical and financial trading activities, Gaselys designs a wide range of energy-related risk management solutions and asset optimisation services for clients right across the energy supply chain - industrial energy consumers, producers, utilities and investors (funds).

Gaselys's offers vary from plain vanilla products to highly sophisticated risk management tools, particularly when hedging spread prices between short term gas markets and long term gas price references.

These solutions have been implemented for over 150 customers throughout Europe - in France, the UK, the Netherlands, Belgium, Germany, Austria, Italy and Spain.

LNG business is the new frontier in the gas industry. Gaselys is already active on this side of the business via its participation in a number of spot transactions in the Atlantic Basin.

Gaselys's NBI has registered a 130% rise between 2004 and 2005. 2006 figures should be well above those of 2005.

"Gas and power markets in Europe have a lot of potential to develop further. Gaselys is excited to be one of the leading young companies that will contribute to their achievement."

Thierry Daubignard, CEO

Thierry Daubignard, Chief Executive Officer, GASELYS