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Gazprom to conduct new auction for gas export in summer

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Gazprom to conduct new auction for gas export in summer

In summer, 2017, Gazprom, a Russian gas giant, is likely to conduct a new auction for gas export under short-term contracts, the deputy chairman of the company’s Board of Directors, Alexander Medvedev, announced over the course of Day of Investor in Hong Kong.

“We have preliminary scheduled the next auction for this summer,” Alexander Medvedev said.

From August 31 to September 2, 2016, Gazprom has sold at an auction for export supplies under short-term contracts. The volume of the deal amounted to 2 billion cubic meters of gas.

Following the results of the auction, contracts with 11 counterparts have to be concluded. Gas will be delivered over the course of the whole winter period between 2016 and 2017.

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