GAZNAT SA

GAZNAT SA: Record results in 2010 - Natural gas as an alternative to nuclear power

Lausanne (ots) - Gaznat SA held its 4th AGM on May 30, 2011. In 2010, the consolidated turnover reached 557 million francs (+10.6%) representing a sales volume of 11.36 billion kilowatt-hours (+18.4%). Natural gas is seen as a quickly mobilisable, safe and flexible alternative now that the progressive phasing out of nuclear power is under consideration.

The Chairman Daniel Mouchet stressed the capital role that natural gas can play in the new Swiss energy strategy and its possible contribution to the production of electricity. He confirmed that the means and capacity of the Swiss gas industry and Gaznat were such that it could convey the quantities of gas necessary for operating the heat-force coupling installations as well as the combined-cycle gas-driven power stations that would be replacing the nuclear installations, which would be shut down at the end of their period of exploitation in accordance with the recent Federal Council decision. In addition, he recalled that gas power stations are ready to meet the adjustment requirements and rapid modulation of the power grids.

Advantages of natural gas

Mr Rene Bautz, General Manager, insisted on the ideal complementarity between natural gas and renewable energies. Natural gas, being very flexible in its use, can deliver power in all circumstances (absence of wind, darkness, consumption peaks). It is the transition energy source par excellence because of its low carbon content. It is competitive in cost and its supply is ensured by the great diversity of its sources.

Record results in 2010

In 2010, Gaznat sales reached the record level of 11.36 billion kilowatt-hours (+18.4%). Turnover was up by 10.6% compared to the preceding year at 557 million francs. This excellent result is explained by the revival of industrial activity on the part of Gaznat customers, the start-up of a new heat-force coupling power station in Monthey as well as by lower average temperatures in 2010. Gaznat regards its development prospects as excellent and views the future with serenity.

Change of shareholders

In accordance with a decision taken at the end of the nineties, the four industrial shareholders in Gaznat (Nestlé Swiss SA, Alcan Aluminium Valais SA, CIMO Compagnie Industrielle de Monthey SA and Lonza SA) withdrew on December 31, 2010. Their shares (28%) were taken over by Gaznat?s gas partners proportionally to their former holdings.

Energy prospects and sustainable development

The guest speaker, Mr Christoph Frei, Secretary-General of the World Energy Council in London, gave an enthrall-ing talk on the challenges to be met to ensure a sustainable energy future. He stressed the importance of a se-cure supply and climatic policy following the recent Fukushima tragedy. At world level, Mr Frei reckons that re-newable energies will continue to grow at the rate of 10% a year. However, that means that it will take approxi-mately 30 years before the share of renewable energies in the world energy balance rises from the current 1% to 10%. This confirms the ideal transition role that natural gas will play over the coming decades.

Contact:

Mrs Muriel Widmer
Tel.: +41/58/274'04'62
E-Mail:m.widmer@gaznat.ch
Internet: www.gaznat.ch


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