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Notification about the opening procedure of the bids submitted to the HAG auction

FGSZ Ltd. hereby informs the Respected System Users that § 24 of the governmental regulation 116/2010(IV.15) titled "About the modification of some governmental regulations with energetic subject" published in the Hungarian Bulletin No 53, dated on 15th April 2010 influences the order of the Long term capacity booking procedure regarding the cross border pipelines.

On the subject of applying the decrees of the published Get. (Gas supply act) Vhr. modification, FGSZ Ltd. keeps on harmonizing the statutory interpretations with the Hungarian Energy Office and other State organs involved in legislations.

Due to this reason, FGSZ Ltd. postpones the date of opening the bids, submitted to the capacity auction announced on the 1st April 2010 for the sale of the available capacities of the HAG pipeline, for an indefinite time. FGSZ Ltd. reserves the notarial deposit of the submitted bids.

FGSZ Ltd. keeps on making all efforts to close the statutory harmonizing process without any further delay and with an unambiguous result. In order to promote the effective preparations of the trading licensees and the consumers for the gas year 2010/2011 and to preserve the high standard of the domestic supply security, right after this notification has been published, before the harmonizing processes have been completed, FGSZ Ltd. is ready to conclude the annual capacity contracts (KFSZRI) based upon all capacity demands previously submitted and confirmed by our Company, with the exception of the capacity demands concerning the HAG pipeline.

Should the statutory interpretations end with a result, owing to which the capacity of the HAG pipeline would be allocated further on to any of the System Users, FGSZ Ltd. will modify the concluded annual capacity contracts accordingly.

We kindly ask the Respected System Users, that in case they wish to take the above described opportunity and wish to conclude their capacity contract not containing the capacities submitted for the HAG pipeline, they should inform the System Operation and Capacity Trade department of FGSZ Ltd. about this request as soon as possible.​

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