In the storage business, gas volumes are usually stored in the summer period before being withdrawn in the winter and delivered according to demand. Meanwhile, the stored gas ties up capital. Therefore, many market participants agree on structured financing with their financing partner to obtain liquidity in this phase. In so-called "repurchase agreements", gas is temporarily sold to the financing partner and bought back later. This form of financing can be advantageous for the partners, as both the gas itself and a right to use the capacities required to access the gas at any time are transferred to the financing party as collateral for the loan.
To implement this security model, astora offers to set up a second storage account for the financing partner to which both capacity usage rights and the transferred gas quantities are booked and can be transferred back to the storage customer at any time if the credit security is no longer required. For this purpose, a trilateral agreement is concluded between the storage customer, the financing partner and astora (see Figure 1). This serves to implement a collateral agreement between the financing partner and the storage customer.
The storage customer and the financing partner inform astora that a capacity and gas transfer is to be carried out on a certain date. astora carries out the transfer and the gas is henceforth under the direct access of the financing partner. For the execution astora requires a fully completed form ("Schedule A" of the contract).
Note: In individual cases, the working gas capacity may be higher than the quantity of gas to be transmitted. In any case, it must be ensured that the quantity of gas transferred at the time of transfer is not exceeding the working gas capacity of the 'receiving' party. The gas quantity reported for the transfer must of course be available on the storage account of the transferring party.
2) Return transfer
At any later point in time, gas and/or capacity can be transferred back to the storage customer. For this purpose, a corresponding transfer request is again declared to astora.
Processes 1) and 2) can be repeated as often as desired.
For more detailed information, please refer to the standard contract or contact the Marketing & Product Development Team.
- Trilateral Transfer AgreementPDF file
If you have any questions, please contact our sales team.