naturgas

PASSING OF THE CODE OF CONDUCT FOR THE SOCIETIES OF THE NATURGAS ENERGÍA GROUP WITH REGULATED ACTIVITIES IN SPAIN

The 12/2007 Law from 2nd July (the Law) modified the existing regulation on separating activities in the hydrocarbon sector. As a consequence, the article 63 of the 34/1998 Law from 7th October was drawn up in order to reinforce the criteria of independence in the management of societies which carry out regulated activities within groups of societies which also carry out free activities.

Among other obligations, the Law imposes the duty of creating a Code of Conduct to Regulated Societies, which has to contain the measures to guarantee that the mentioned independence criteria and the obligations of each employee are fulfilled. The fulfilment of these shall be supervised and evaluated.

In order to fulfil the abovementioned obligations, the Administration Council of Naturgas Energía Grupo, S.A. passed in the session of 21st December 2007 a Code of Conduct (the Code) to separate the activities of the societies of the group Grupo Naturgas Energía, Naturgas Energia Distribución, S.A.U. and Naturgas Energia Transporte, S.A.U, which carry out regulated activities in Spain.

In order to fulfil the rules stipulated in the III.1 paragraph of the Code, to circulate it in the organization, a copy of the Code is attached to this document. All the employees of the regulated societies, as well as the employees of the free societies and other societies of the Naturgas Group, shall fulfil the Code, as far as it is applicable. The passed Code and its updatings shall be available in the intranet and in the webpage of the company.