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BELGIUM


CAPITAL: Brussels

MONETARY UNIT: Franc

REFINING CAPACITY: 719,000 b/cd

OIL PRODUCTION: 34,272 b/d

OIL RESERVES: 107 million bbl

GAS RESERVES: 509 bcf

Six leading gas companies esablished a European natural gas trading contract and hub agreement for the terminal at Zeebrugge, Belgium.

Belgium`s Distrigas SA brokered the agreement in late 1999.

The contract and accompanying hub services agreement set standard terms for gas trading at Zeebrugge, where Interconnector Pipeline links Britain to continental Europe.

Zeebrugge had accommodated spot gas trading since the 20 billion cu m/year pipeline opened in 1998, but traders said a standard contract was needed for the market to expand.

Negotiators included representatives of Enron Gas Co., Exxon Mobil Corp., Gaz de France, Ruhrgas, BP Amoco PLC, and Distrigas.

Distrigas and Germany`s Ruhrgas AG each acquired from BG PLC a 5% interest in Interconnector (UK) Ltd., operator of pipeline, for $8.25 million each. Afterwards, BG had a 25% share while the deal brought Distrigas`s and Ruhrgas`s shares to 10% each.

In other action, Electrabel was building a cogeneration power plant at the Solvay chemical complex in the Jemeppe-Sur-Sambre industrial area. Start-up was planned for mid-2000.

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