Sébastien Zimmer
Partner

Sébastien has built a 24-year experience in the energy sector, including 9 years in operational positions with energy players (TotalEnergies, BP, ENGIE, EDF), 5 years as head of upstream gas infrastructures at CRE and 10 years in strategy consulting (Emerton).

Sébastien has an in-depth experience in Oil & Gas. He led long-term gas and LNG supply negotiations, originated structured deals and analyzed investment opportunities in the upstream sector. Moreover, Sébastien has built a distinctive expertise of regulated activities and energy infrastructures. At the CRE, he was in charge of organizing and regulating the French natural gas market by elaborating market rules and tariff schemes.

Thanks to his triple experience in industry, regulation and consulting, Sébastien has built up a distinctive expertise in the gas, power and hydrogen value chains, with a particular focus on the infrastructure segment and its regulatory framework.

Sébastien provides support for regulatory analysis, market design, due diligence, decarbonization and asset transition for major groups, investment funds and infrastructure players, mainly in Europe. He also acts as an expert in high-stake litigation support in the energy sector (e.g. international arbitration and price reviews).

Sébastien holds two Masters of Engineering, from the Ecole des Mines de St-Etienne and from IFP School.

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Northwest European gas wholesale markets: What if price correlations break down?

Gas pricing mechanisms have undergone profound changes during the last decade in Northwest Europe; prices are no longer based on the final users’ gas value but rather on the wholesale gas markets which reflect the supply/demand dynamics.

Gas shippers are adapting their booking strategy relying more and more on short-term cross-border capacity in order to minimize their exposure to long-term commitments. The various players along the gas value chain would be impacted by such a development. Midstreamers would be the first to benefit from increased price spreads as they would be able to recover the costs they have engaged for cross-border capacity bookings, whereas final users would face price increases.

A fragmented wholesale European market would also result in significant disparities between the gas prices paid by end-users in different countries. Such an evolution would strongly challenge the fundamentals of the current European Gas Target Model.

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LNG imports in Europe: what differentiation factors between regasification terminals?

European LNG imports have surged during the first quarter of 2019.

Some EU wholesale gas markets have been more attractive than others in absorbing these additional LNG volumes.

What are the key differentiation factors enhancing the attractiveness of the European regasification terminals?

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Massive increase of EU LNG imports: enablers, benefits and trends

European LNG imports have more than doubled during the first three quarters of 2019 when compared to 2018.

Europe started playing the role of a balancing market absorbing the excess LNG volumes.

Beyond regasification terminals, gas infrastructure and notably storage facilities play a key role in enabling such a flexible and adaptative supply mix.

In the longer run, LNG imports in Europe are expected to become increasingly needed rather than being an option.