News
2007-01-09 - STX Services Clinches First Dutch Bio-fuel Deal
Amsterdam, 10 January 2007: STX Services, an environmental markets broker, has brokered an agreement whereby a supplier of petrol and diesel will transfer its statutory biofuels obligation to another fuel supplier. This transaction is the first of its kind in the Netherlands. For a consideration, the transferee will take over the transferor’s obligation to source two per cent of its sales in the Netherlands from biofuels. The underlying reason for the transaction is that the transferee is able to blend the biofuels more cost-effectively. Both of the parties concerned wish to remain anonymous.
The Dutch government has decided that, with effect from 1 January 2007, an average of two per cent of every full tank of petrol or diesel that is destined for road transport must consist of biofuel. This directive is part of the government’s CO2 reduction policy, and should ultimately result in 5.75 per cent biofuels usage by 2010. Parliament has also decreed that this obligation may be traded between the fuel suppliers concerned. STX Services, which acts as an intermediary between energy companies and other players in the international environmental market, took the initiative to analyze demand and supply in the Dutch market for biofuels obligations. The Amsterdam-based broker brought the two parties together.
According to Pieter van Vegchel, a broker with STX Services: "This is a unique transaction for the Netherlands. We believe that it will be the first in a series of domestic and international trades in this sector. Other European countries, such as Germany, are also introducing legislation that makes it possible to transfer biofuels obligations to other market players. With its knowledge of this market and its extensive network, STX Services can bring parties that have surplus blending capacity together with players that have a capacity shortage."
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