Gazprom closes gas auction

The first ever auction of Gazprom and its unit Gazprom Export for sales of natural gas conducted from the 7th till the 10th of September 2015 has been finalized.

As a result of the auction, over forty deals with 15 clients were concluded, with a total volume of over 1 bcm being sold which corresponds to over one-third of the volumes initially offered, the company informed in a statement.

The auction contract prices were higher than Gazprom Export contract prices’ average for the coming winter (October 2015 through March 2016) for the whole portfolio, and for Central and Northern Europe including Germany; auction prices were higher than the spot and forward prices on the European gas hubs, too.

Gazprom offered 3.2 bcm of gas to be supplied during the delivery period winter 2015/2016 with 39 companies taking part in the auction.

Image: Gazprom