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Liberalization and market reform have long been key themes in the European energy sector with the creation of a single European energy market high on the agenda of the European Union for many years; the first steps towards this process took place in the early 1990s with the passing of Directive 90/377/EC, which aimed to make gas and power prices more transparent. This was followed by Directives 91/296/EEC and 90/547/EEC which were aimed at making trading energy between different European Union members more efficient. Liberalization began in earnest in late 1996 when the EU passed the electricity directive (Directive 96/92/EC) setting out common rules for power production, transmission and distribution throughout the EU. The directive also legislated for gradual market opening with a target of 33% of all power markets meant to be opened to competition by February 2003. The electricity directive was followed in June 1998 by the passing of the first gas directive (Directive 98/30/EC), which came into legal force on 10th August 1998 and was meant to have been adopted into the national legislation of all member states within 2 years. The directive established common rules for the operation of gas markets as well as outlining a market opening schedule. Under the terms of the directive, consumers of more than 25 mcm per year and all gas fired power stations were immediately able to choose their supplier, whilst phase 2 set a 28% market opening target by mid 2003 and 33% by mid 2008. At the time the first directive was criticized, mainly by gas consumers, who described it as toothless and lacking in substance for having what they saw as a slow and undemanding market opening schedule.

Table of Contents
The Eastern European Gas Market Outlook 2006
European regional overview 12
Regulatory climate 12
Market development 14
Chapter 2 Bulgaria 16
Market summary 16
Supply and demand balance 17
Supply overview 18
Demand overview 18
Regulatory structure 20
Infrastructure 20
Chapter 3 Croatia 24
Market summary 24
Supply and demand balance 25
Supply overview 26
Demand overview 27
Regulatory structure 28
Infrastructure 28
Chapter 4 Czech Republic 32
Market summary 32
Supply and demand balance 33
iv
Supply overview 34
Demand overview 35
Regulatory structure 36
Infrastructure 37
Chapter 5 Estonia 40
Market summary 40
Supply and demand balance 41
Supply overview 42
Demand overview 42
Regulatory structure 43
Infrastructure 44
Chapter 6 Hungary 46
Market summary 46
Supply and demand balance 47
Supply overview 48
Demand overview 49
Regulatory structure 50
Infrastructure 51
Pipelines 51
Storage 51
Chapter 7 Latvia 54
Market summary 54
Supply and Demand Balance 55
Supply overview 56
Demand overview 56
Regulatory structure 57
Infrastructure 58
Pipelines 58
Storage 58
v
Chapter 8 Lithuania 60
Market summary 60
Supply and demand balance 61
Supply overview 62
Demand overview 62
Regulatory structure 63
Infrastructure 64
Pipelines 64
Chapter 9 Poland 68
Market summary 68
Supply and demand balance 69
Supply overview 70
Demand overview 71
Regulatory structure 72
Infrastructure 73
Pipelines 73
Chapter 10 Romania 78
Market summary 78
Supply and demand balance 79
Supply overview 80
Demand overview 81
Regulatory structure 82
Infrastructure 83
Chapter 11 Russia 86
Market summary 86
Supply and demand balance 87
Supply overview 88
Demand overview 89
vi
Regulatory structure 90
Industry restructuring 91
Competitive intensity 92
Market framework factors 93
Supplier push factors 94
Customer pull factors 94
Wholesale trading 94
Infrastructure 95
Upstream 95
Unified Gas Supply System 96
Export infrastructure 96
Chapter 12 Slovakia 100
Market summary 100
Supply and demand balance 101
Supply overview 102
Demand overview 103
Regulatory structure 104
Infrastructure 105
Pipelines 105
Storage 106
Chapter 13 Slovenia 108
Market summary 108
Supply and demand balance 109
Supply overview 110
Demand overview 111
Regulatory structure 111
Infrastructure 112
Pipelines 112
Appendix 114
Data sources 114
Data Adjustments 114
Definitions 115
vii
viii
List of Figures
Figure 0.1: Gas Penetration Vs. Absolute Demand 14
Figure 2.2: Bulgaria, Historical Demand 19
Figure 2.3: Bulgaria, Sectoral Demand 19
Figure 2.4: Bulgaria, Gas Grid 21
Figure 3.5: Croatia, Gas Production 26
Figure 3.6: Croatia, Sectoral Demand 27
Figure 3.7: Croatia, Historical Demand 27
Figure 3.8: Croatia, Gas Grid 29
Figure 4.9: Czech Republic, Import Sources 34
Figure 4.10: Czech Republic, Gas Production 35
Figure 4.11: Czech Republic, Sectoral Demand 35
Figure 4.12: Czech Republic, Historical Sectoral Consumption 36
Figure 4.13: Czech Republic, Czech Republic Distribution Grid 38
Figure 5.14: Estonia, Sectoral Demand 43
Figure 5.15: Estonia, Gas Distribution Grid 44
Figure 6.16: Hungary, Gas Production 48
Figure 6.17: Hungary, Imports By Source 48
Figure 6.18: Hungary, Sectoral Demand 49
Figure 6.19: Hungary, Historical Sectoral Demand 49
Figure 7.20: Latvia, Sectoral Demand 57
Figure 8.21: Lithuania, Sectoral Demand, 63
Figure 9.22: Poland, Gas Production 70
Figure 9.23: Poland, Imports By Source 71
Figure 9.24: Poland, Sectoral Demand 71
Figure 9.25: Poland, Historical Sectoral Demand 72
Figure 9.26: Poland, Gas Transmission System 75
Figure 10.32: Romania, Gas Production 80
Figure 10.33: Romania, Imports By Source 81
Figure 10.34: Romania, Sectoral Demand 81
Figure 10.35: Romania, Historical Sectoral Demand 82
Figure 11.36: Russia, Gas Production 88
Figure 11.37: Russia, Gas production by producer type 89
Figure 11.38: Russia, Sectoral Demand 90
Figure 11.39: Russia – The future of Gazprom 92
Figure 11.40: Russia, gas market competitive intensity 2005-08 93
Figure 11.41: Russia, Gas reserves 95
Figure 11.42: Russia, Main existing and planned export pipelines 97
Figure 12.43: Slovakia, Gas Production 102
Figure 12.44: Slovakia, Imports By Source 103
Figure 12.45: Slovakia, Sectoral Demand 103
Figure 12.46: Slovakia, Historical Sectoral Demand 104
Figure 12.47: Slovakia, Gas Grid 106
Figure 13.48: Slovenia, Imports By Source 110
Figure 13.49: Slovenia, Sectoral Demand 111
Figure 13.50: Slovenia, Gas Grid 113
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List of Tables
Table 2.1: Bulgaria, Supply and Demand Balance 17
Table 3.2: Croatia, Supply and Demand Balance 25
Table 4.3: Czech Republic, Supply and Demand Balance 33
Table 4.4: Czech Republic, Storage Sites 37
Table 5.5: Estonia, Supply and Demand Balance 41
Table 6.6: Hungary, Supply and Demand Balance 47
Table 6.7: Hungary, Storage Sites 51
Table 7.8: Latvia, Supply and Demand Balance 55
Table 8.9: Lithuania, Supply and Demand Balance 61
Table 9.10: Poland, Supply and Demand Balance 69
Table 10.12: Romania, Supply and Demand Balance 79
Table 11.13: Russia, Supply and Demand Balance 87
Table 11.14: Russia, Age of high-pressure pipelines, 2004 96
Table 12.15: Slovakia, Supply and Demand Balance 101
Table 12.16: Slovakia, Storage Sites 106
Table 13.17: Slovenia, Supply and Demand Balance 109