New mechanisms in the gas trade, such as auctions, are an adequate response from “Gazprom” to new conditions and challenges.
This is what the “Gazprom” CEO Alexey Miller told reporters on the 3rd of March in Moscow. According to him, Russian gas in the Baltic market was, and is, competitive.
To remind you, “The Gazprom Expert” announced yesterday that a gas auction would take place from the 15th to 17th of March. The auction implies the supply of over 560 mln m3 of gas to the Baltic states in the second and fourth quarters of this year.
Gas volumes in the Inchukalnsky underground gas storage facility, located in Latvia, will also be offered for sale, as well as at the Kotlovka station of the Geographical Information System, located on the border of Belarus and Lithuania.
“Gazprom” carried out the first auction for gas sales in Europe in September 2015, which included gas supplies for the winters of 2015-2016 via the “Northern Stream” route. Over 40 deals with 15 counterparts have been concluded since then for an overall volume of more than 1.2 bln m3 of gas.