DONG Enters the Zeebrügge Hub

In order to fulfill DONG's strategy of moving into North Western Europe, DONG has signed a Hub Service Agreement with Huberator S.A. - the owner of the Zeebrügge hub in Belgium. The agreement enables DONG to begin trading natural gas on the hub from June 2004.

The Zeebrügge hub is one of the main three gas hubs with physical delivery in Europe. There are currently sixty players on the hub and some forty customers on average are active each day. The daily average of the net traded volumes corresponds to more than twice the average daily consumption on the Belgian market.

DONG expects to build up its presence on the hub and in North Western Europe, as gas begins to flow in from the North Sea later this year. Thus, the new pipeline connecting the Tyra platform with the Nogat pipeline and the Netherlands, will enable DONG to deliver gas directly to the market.

"This is an important step towards DONG's strategic objective of gaining access to the markets and hubs in North Western Europe. With this agreement DONG can now enter one of the main European hubs for trading physical natural gas. Entering the European gas market is a natural consequence of the increased competition following deregulation of the Danish gas market," says Executive Vice President in DONG, Kurt Bligaard Pedersen.
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