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Report on the First Three Quarters of 2014
REPORT ON THE FIRST THREE QUARTERS OF 2014 • Operating result of €2.9 billion as forecast • Net fi nancial debt down by €2.3 billion • Outlook for 2014 confi rmed • RWE plants pre-qualify for UK capacity market AT A GLANCE RWE Group – key figures1 Jan – Sep Jan – Sep + /− Jan – Dec 2014 2013 % 2013 Electricity production billion kWh 151.2 160.7 − 5.9 218.2 External electricity sales volume billion kWh 191.7 200.0 − 4.2 270.9 External gas sales volume billion kWh 184.6 228.7 − 19.3 320.7 External revenue € million 35,288 38,698 − 8.8 52,425 EBITDA € million 4,700 6,048 − 22.3 7,904 Operating result € million 2,908 4,190 − 30.6 5,369 Income from continuing operations before tax € million 1,470 1,251 17.5 − 2,016 Net income € million 994 609 63.2 − 2,757 Recurrent net income € million 763 1,915 − 60.2 2,314 Earnings per share € 1.62 0.99 63.6 − 4.49 Recurrent net income per share € 1.24 3.12 − 60.3 3.76 Cash flows from operating activities of continuing operations € million 4,759 4,503 5.7 4,803 Capital expenditure € million 2,284 2,526 − 9.6 3,978 Property, plant and equipment and intangible assets € million 2,197 2,458 − 10.6 3,848 Financial assets € million 87 68 27.9 130 Free cash flow € million 2,562 2,045 25.3 960 30 Sep 2014 31 Dec 2013 Net debt € million 30,709 30,727 − 0.1 Workforce2 60,439 64,896 − 6.9 1 See commentary on reporting on page 11. -
Gazprom's Monopoly and Nabucco's Potentials
Gazprom’s Monopoly and Nabucco’s Potentials: Strategic Decisions for Europe Nicklas Norling SILK ROAD PAPER November 2007 Gazprom’s Monopoly and Nabucco’s Potentials: Strategic Decisions for Europe Nicklas Norling © Central Asia-Caucasus Institute & Silk Road Studies Program – A Joint Transatlantic Research and Policy Center Johns Hopkins University-SAIS, 1619 Massachusetts Ave. NW, Washington, D.C. 20036, U.S. Institute for Security and Development Policy, V. Finnbodav. 2, 131 30, Nacka-Stockholm, Sweden www.silkroadstudies.org "Gazprom’s Monopoly and Nabucco’s Potential: Strategic Decisions for Europe" is a Silk Road Paper published by the Central Asia-Caucasus Institute & Silk Road Studies Program. The Silk Road Paper series is the Occasional Paper series of the Joint Center, published jointly on topical and timely subjects. The Central Asia-Caucasus Institute and the Silk Road Studies Program is a joint transatlantic independent and externally funded research and policy center. The Joint Center has offices in Washington and Stockholm and is affiliated with the Paul H. Nitze School of Advanced International Studies of Johns Hopkins University and the Stockholm-based Institute for Security and Development Policy. It is the first Institution of its kind in Europe and North America, and is today firmly established as a leading research and policy center, serving a large and diverse community of analysts, scholars, policy-watchers, business leaders and journalists. The Joint Center aims to be at the forefront of research on issues of conflict, security and development in the region. Through its applied research, publications, teaching, research cooperation, public lectures and seminars, it wishes to function as a focal point for academic, policy, and public discussion regarding the region. -
The Regional Security Environment
1800 K Street, NW Suite 400 Washington, DC 20006 Phone: 1.202.775.3270 Fax: 1.202.775.3199 Web: www.csis.org/burke/reports Energy Risks in North Africa and the Middle East Anthony H. Cordesman Arleigh A. Burke Chair in Strategy Second Edition May 24, 2012 Introduction 2 Introduction Any estimate of energy risk is highly uncertain. The reality can vary sharply according to national and global economic conditions, politics, war, natural disasters, discoveries of new reserves, advances in technology, unanticipated new regulations and environmental issues, and a host of other factors. Moreover, any effort to model all aspects of world energy supply and demand requires a model so complex that many of its interactions have to be nominal efforts to deal with the variables involved. Even if perfect data were available, there could still be no such thing as a perfect model. That said, the US Department of Energy (DOE) and its Energy Information Agency (EIA) do provide estimates based on one of the most sophisticated data collection and energy modeling efforts in the world. Moreover, this modeling effort dates back decades to the founding of the Department of Energy and has been steadily recalibrated and improved over time – comparing its projections against historical outcomes and other modeling efforts, including those of the International energy Agency and OPEC. The DOE modeling effort is also relatively conservative in projecting future demand for petroleum and natural gas. It forecasts relatively high levels of supply from alternative sources of energy, advances in new sources of energy and liquid fuels, and advances in exploration and production. -
Our Responsibility. Report 2013 XXXXX U1 Our Responsibility
Our Responsibility. Report 2013 XXXXX U1 Our Responsibility. Report 2013 KAPITEL HEAD EARNING TRUST. Our Responsibility. Report 2013 CONTENT Interview with Peter Terium 1 About this Report 66 Report Profile 66 Our Greatest Challenges 3 Independent Assurance Report 68 Corporate Challenges 3 Index According to GRI Environmental Challenges 6 (Global Reporting Initiative) 71 Social Challenges 13 GRI Level Check Statement 73 Governance Challenges 16 UN Global Compact Progress Report 2013 74 CR Strategy and Management 20 Group Portrait 20 Key Figures at a Glance 76 Value Chain: activities and challenges 23 Our Regions 26 Contact and Imprint 79 Corporate Responsibility Strategy 33 Materiality Analysis 2013 35 Our Company 80 CR Management 37 Additional Management Systems 38 Stakeholder Dialogue 41 CR Programme 43 Our CR Areas for Action 46 Climate Protection 46 Energy Efficiency 48 Biodiversity/Environmental Protection 50 Community Engagement 52 Customer Trust 54 Employees 56 Supply Chain 58 Occupational Safety and Healthcare Management 60 Security of Supply 62 Innovation 64 Our Responsibility. Report 2013 Interview with Peter Terium 1 INTERVIEW WITH PETER TERIUM CEO of RWE AG Mr Terium, the restructuring of the European energy RWE wants to be a partner for the energy transition. system is moving forward. Like any major process of But do our citizens want RWE to be a partner? change, there will be winners and losers. Which side We have a lot of supporters. More than 23 mil- will RWE be on at the end of the journey? lion people put their trust in RWE’s expertise It would not be good if the energy transition every day: our customers. -
Financial Statements of RWE AG 2012
2012Financial Statements of RWE AG FINANCIAL STATEMENTS OF RWE AG The financial statements and review of operations of RWE AG for the 2012 fiscal year are submitted to Bundesanzeiger Verlagsgesellschaft mbH, Cologne, Germany, the operator of the electronic Bundesanzeiger (Federal Gazette), and published in the electronic Bundesanzeiger. The review of operations of RWE AG has been combined with the review of operations of the RWE Group and is published in our annual report on pages 31 to 101 and pages 111 to 117. Balance Sheet 2 Income Statement 3 Notes 3 Dividend Proposal 20 Responsibility Statement 21 List of Shareholdings (Part of the Notes) 22 Boards (Part of the Notes) 47 Auditor’s Report 51 Financial Calendar 52 Imprint 53 2 Balance Sheet Balance Sheet at 31 December 2012 Assets (Note) 31 Dec 2012 31 Dec 2011 € million Non-current assets (1) Financial assets 42,440 39,246 Current assets Accounts receivable and other assets (2) Accounts receivable from affiliated companies 9,039 7,719 Accounts receivable from investments 1 Other assets 121 141 Marketable securities (3) 351 2,357 Cash and cash equivalents (4) 1,404 697 10,916 10,914 Prepaid expenses (5) 465 73 Deferred tax assets (6) 2,221 2,761 56,042 52,994 Equity and liabilities (Note) 31 Dec 2012 31 Dec 2011 € million Equity (7) Subscribed capital Common shares 1,474 1,474 Preferred shares 100 100 1,574 1,574 Less nominal value of treasury shares − 1 Capital issued 1,574 1,573 Capital reserve 2,385 2,385 Retained earnings Other retained earnings 4,870 4,737 Distributable profit -
Wiiw Research Report 367: EU Gas Supplies Security
f December Research Reports | 367 | 2010 Gerhard Mangott EU Gas Supplies Security: Russian and EU Perspectives, the Role of the Caspian, the Middle East and the Maghreb Countries Gerhard Mangott EU Gas Supplies Security: Gerhard Mangott is Professor at the Department Russian and EU of Political Science, University of Innsbruck. Perspectives, the Role of This paper was prepared within the framework of the Caspian, the the project ‘European Energy Security’, financed from the Jubilee Fund of the Oesterreichische Na- Middle East and the tionalbank (Project No. 115). Maghreb Countries Contents Summary ......................................................................................................................... i 1 Russia’s strategic objectives: breaking Ukrainian transit dominance in gas trade with the EU by export routes diversification ............................................................... 1 1.1 Nord Stream (Severny Potok) (a.k.a. North European Gas Pipeline, NEGP) ... 7 1.2 South Stream (Yuzhnyi Potok) and Blue Stream II ......................................... 12 2 The EU’s South European gas corridor: options for guaranteed long-term gas supplies at reasonable cost ............................................................................... 20 2.1 Gas resources in the Caspian region ............................................................. 23 2.2 Gas export potential in the Caspian and the Middle East and its impact on the EU’s Southern gas corridor ................................................................. -
5Th Pipeline Technology Conference 2010
5th Pipeline Technology Conference 2010 The next generation of oil and gas pipelines - who, what, where and when.... Julian Lee Senior Energy Analyst Centre for Global Energy Studies UK Abstract This paper seeks to identify the next wave of major oil and gas pipeline construction projects around the world, assessing which countries are likely to be able to turn their plans for new pipelines into real, bankable projects. It is not a comprehensive, or exhaustive, list of new pipeline projects. There is no shortage of new oil and gas pipeline proposals that are keeping project sponsors, industry analysts and conference organisers busy. Many of them are grand in their ambition, many seek to meet the political ends of their sponsors, many cross several international borders, and all will compete for capital and resources. Many of tomorrow’s oil and gas supplies are being developed in areas that are remote from existing infrastructure, far from markets or export terminals. Tomorrow’s big, new hydrocarbons consumers live in countries that are only just beginning to develop their oil and gas import and transmission infrastructures, while traditional markets are stagnating. Politics, too, is playing its part, as old alliances are tested and both buyers and sellers seek security of supply and greater diversification. 1. The evolving geography of oil and gas The geography of oil and gas trade is changing. Big new oil and consumers are emerging. The centre of energy demand growth has shifted dramatically from West to East. At the same time, new centres of oil and gas production are also emerging. -
Iran Sanctions
Iran Sanctions Kenneth Katzman Specialist in Middle Eastern Affairs February 10, 2012 Congressional Research Service 7-5700 www.crs.gov RS20871 CRS Report for Congress Prepared for Members and Committees of Congress Iran Sanctions Summary The international coalition that is imposing progressively strict economic sanctions on Iran is broadening and deepening, with increasingly significant effect on Iran’s economy. The objective, not achieved to date, remains to try to compel Iran to verifiably confine its nuclear program to purely peaceful uses. As 2012 begins, Iran sees newly-imposed multilateral sanctions against its oil exports as a severe threat - to the point where Iran is threatening to risk armed conflict. Iran also has indicated receptivity to new nuclear talks in the hopes of reversing or slowing the implementation of the oil export-related sanctions. The energy sector provides nearly 70% of Iran’s government revenues. Iran’s alarm stems from the potential loss of oil sales as a result of: • A decision by the European Union on January 23, 2012, to wind down purchases of Iranian crude oil by July 1, 2012. EU countries buy about 20% of Iran’s oil exports. This action took into consideration an International Atomic Energy Agency (IAEA) report on Iran’s possible efforts to design a nuclear explosive device, and diplomatic and financial rifts with Britain, which caused the storming of the British Embassy in Tehran on November 30, 2011. • Decisions by other Iranian oil purchasers, particularly Japan and South Korea, to reduce purchases of Iranian oil. Those decisions are intended to comply with a provision of the FY2012 National Defense Authorization Act (P.L. -
References of Kraftwerksschule E.V. 1999 – 2018
REFERENCES OF KRAFTWERKSSCHULE E.V. 1999 – 2018 THIS BROCHURE IS GOING TO BE EDITORIALLY REVISED AND UPDATED KRAFTWERKSSCHULE E.V. – training for the future INTERNATIONAL ACTIVITIES 02 REFERENCES – THEORETICAL TRAINING Theoretical Training Period Country Client Task 2018 Saudi Arabia TÜV Rheinland 1 report Saudi Arabia “Competency development for SEC” Competency Development for SEC (Saudi Electricity Company) 2018 India Gesellschaft für 1 training course internationale “Flexpert – Flexible operation of coal fired poewr plants” Zusammenarbeit (GIZ) for trainers from different Indian power plants 2018 India Gesellschaft für 1 report internationale “Required training for flexible operation of coal fired power plants” Zusammenarbeit (GIZ) 2018 Egypt Siemens AG 1 training course Energy Solutions “Water steam cycle” for operators of Burullus power plant 2018 Egypt Siemens AG 1 training course Energy Solutions “Steam turbine” for operators of Burullus power plant 2018 Egypt Siemens AG 1 training course Energy Solutions “HPO and laboratory training” for maintenance managers of Burullus power plant 2018 United Siemens AG 1 training course Kingdom Energy Solutions “CCPP fundamental operator training” for operators of Kings Lynn power plant 2018 Russia Siemens AG 1 training course Energy Solutions “Gas turbine, electrical and instrumentation & control” for operators of Grosny power plant 2018 Sudan Siemens AG 1 training course Energy Solutions “Gas turbine, electrical and instrumentation & control” for operators of Garri power plant 2018 Turkey -
OSPAR Database on Offshore Wind-Farms, 2014 Update
OSPAR database on offshore wind-farms 2014 UPDATE (revised in 2015) Biodiversity Series 2015 OSPAR Convention Convention OSPAR The Convention for the Protection of the La Convention pour la protection du milieu Marine Environment of the North-East marin de l'Atlantique du Nord-Est, dite Atlantic (the “OSPAR Convention”) was Convention OSPAR, a été ouverte à la opened for signature at the Ministerial signature à la réunion ministérielle des Meeting of the former Oslo and Paris anciennes Commissions d'Oslo et de Paris, Commissions in Paris on 22 September 1992. à Paris le 22 septembre 1992. La Convention The Convention entered into force on 25 est entrée en vigueur le 25 mars 1998. March 1998. The Contracting Parties are Les Parties contractantes sont l'Allemagne, Belgium, Denmark, the European Union, la Belgique, le Danemark, l’Espagne, la Finland, France, Germany, Iceland, Ireland, Finlande, la France, l’Irlande, l’Islande, le Luxembourg, Netherlands, Norway, Portugal, Luxembourg, la Norvège, les Pays-Bas, le Spain, Sweden, Switzerland and the United Portugal, le Royaume-Uni de Grande Bretagne Kingdom. et d’Irlande du Nord, la Suède, la Suisse et l’Union européenne. 2 of 17 OSPAR Commission, 2015 OSPAR Database on Offshore Wind-farms – 2014 Update (revised in 2015) The use of any renewable energy source makes a significant contribution towards climate protection and towards placing our energy supply on a sustainable ecological footing, thereby helping to conserve the natural balance. Nevertheless, the utilisation of renewable sources of energy can also have an adverse impact on the environment and our natural resources. Since 2001, OSPAR and its Biodiversity Committee (BDC) have been noting that the offshore wind energy sector has been rapidly expanding in the OSPAR maritime area. -
EU Involvement in Electricity and Natural Gas Transmission Grid Tarification
http://think.eui.eu Topic 6 EU Involvement in Electricity and Natural Gas Transmission Grid Tarification Final Report January 2012 Project Leader: Christian von Hirschhausen Research Team Leader: Sophia Ruester Research Team: Claudio Marcantonini Xian He Jonas Egerer Jean-Michel Glachant Project Advisers: Dörte Fouquet Nils-Henrik von der Fehr THINK is financially supported by the EU’s 7th framework programme This text may be downloaded only for personal research purposes. Any additional reproduction for other purposes, whether in hard copies or electronically, requires the consent of the authors. Source should be acknowledged. If cited or quoted, reference should be made to the full name of the authors, the title, the year and the publisher. ISBN: 978-92-9084-075-6 doi:10.2870/35561 © 2012, European University Institute © 2012, Sophia Ruester, Christian von Hirschhausen, Claudio Marcantonini, Xian He, Jonas Egerer and Jean-Michel Glachant EU Involvement in Electricity and Natural Gas Transmission Grid Tarification Contents Acknowledgements i Executive Summary iii 1. Introduction 1 2. Trans-regional coordination and the potential role of the EU: The case of transmission infrastructures 4 2.1 Economic rationale for EU involvement and harmonization 4 2.1.1 Is any trans-national involvement justified on the grounds of subsidiarity? 4 2.1.2 Is there any economic rationale for public involvement beyond the Member State level? 5 2.1.3 Decentral coordination and EU instruments 6 2.2 Choosing among different forms of EU involvement 7 3. Regulation of TSO revenues 8 3.1 Introduction 8 3.2 Current regulatory practice 9 3.2.1 General price control mechanisms and their implementation 10 3.2.2 Instruments to promote investments 12 3.3 Current EU involvement and harmonization 13 3.4 Recommendations regarding the future role of the EU 14 4. -
Company Name First Name Last Name Job Title Country
Company Name First Name Last Name Job Title Country 1StopWind Ltd Arran Bell Operations Manager United Kingdom 1StopWind Ltd. Alan Mckerns United Kingdom 1StopWind Ltd. Bernadette McAulay Finance Manager United Kingdom 1StopWind Ltd. Joel Telling General Manager United Kingdom 23 Degrees Renewables Ltd Ed Woodrow Business Development United Kingdom 24SEA bvba Gert De Sitter Owner Belgium 3S Europe GmbH Matthias Lamp Vice President of Sales & Marketing Germany 3sun Denmark ApS Christian Christensen Operations Director Denmark 3sun Group Limited Jody Potter United Kingdom 3sun Group Limited Graham Hacon VP Business Development, Offshore Wind United Kingdom 3sun Group Limited Sherri Smith Company Secretary United Kingdom 3W Industri Service Simon Øland Project manager - sales Denmark 3W Industri Service Kenneth Pedersen IWI-S Denmark 4C Offshore Lauren Anderson United Kingdom 4C Offshore Richard Aukland Director United Kingdom 4C Offshore Rosie Haworth Market Researcher United Kingdom 4C Offshore Vincenzo Poidomani Principal Geotechnical Engineer United Kingdom 8.2 Bruno ALLAIN CEO France 8.2 Monitoring GmbH Bernd Höring Managing director Germany 920338402 Ellinor Meling Ceo Norway A&P Group Emma Harrick United Kingdom A.P. Møller Holding Simon Ibsen Investor Denmark A/S Dan-Bunkering Ltd. Jens Kirk Denmark A/S Dan-Bunkering Ltd. Michael Brunø-Sørensen Senior Bunker Trader Denmark A1wind Aps Martin Jensen Director / A1wind Aps Denmark AAF Ltd Steven Brett Europe MFAS Aftermarket Sales Manager United Kingdom AAG Allan Tarp Sales Manager Denmark