Gas & Power activities include the transportation, marketing, trading and regasification of liquefied natural gas (LNG), as well as renewable energy projects.
By December 31, 2016, the Group had both its regasification and transport assets in its marketing businesses in North America, including the Canaport regasification plant and the gas pipelines in Canada and the United States.
|LNG regasified (Tbtu) in Canaport (100%)||23||16||(7)|
|Gas marketed in North America (Tbtu)||299||414||115|
The volume marketed in North America grew 38% in 2016. This growth stems from the development of the activity and the search for gas trading opportunities in the West Coast, and also on greater marketing of Upstream gas.
In northeastern United States, where natural gas supplies tend to be more limited, cold temperature scenarios may cause significant peaks in benchmark prices in the region, such as Algonquin (the benchmark price for the Boston area). Our activity in the northeast is concentrated on optimizing the margin obtained from the marketing of LNG, capitalizing on the flexibility offered by the Canaport plant to regasify the stored LNG and concentrate natural gas (NG) sales on peak price winter days.
During the year, the absence of sustained low temperatures over time, and the fall in the price of gas substitutes (eg: fuel and other petroleum products) adversely affect the peak prices of the winter period, thus reducing our capacity to capture the plant’s commercial margin, which explains the decrease in regasified volume.
In 2016, the wind power business in the United Kingdom was sold to China's SDIC Power.