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2019 call for tender - SAGESS' need for storage


« The French legislation has structured SAGESS as a private corporation, which shareholders are made of all oil companies operating on the French oil market. SAGESS Board of Directors and management embody this shareholding structure, as in all private corporation.   

To guarantee the respect for the principles of equity, transparency and traceability, a strict governance has been progressively established over the years : an audit committee, a storage committee, a systematic call for orders, the abstentation of adequate Directors if needed, decisions taken by commissions…The representatives of DGEC (Ministry of Energy), DGCCRF (Ministry of Budget) and DGDDI (Custom administration) attend the Board of directors Meetings.

The relevant law applicable to SAGESS storage contracts and purchase of stocks of petroleum products is the French Code of Commerce (L110-1, L110-2, L110-3 and L110-4) : potential conflicts  are managed by the Commercial Courts of First Instance. » 

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