Gazprom closes gas auction for Baltic States

Gazprom Export said on Friday it has concluded the gas auction for the Baltic States, signing deals for over 420 million cubic meters.

Gazprom’s deputy chairman Alexander Medvedev said more than three-fourths of the 560 mcm of gas, the total volume on offer for the Baltic states was sold.

Gazprom noted in its statement that the auction was held from March 15 to 17, adding it has signed deals with six clients.

The company revealed at the beginning of March that the gas sold at the auction will be delivered in the second, third and the fourth quarter of 2016 to the delivery point at Kotlovka gas metering station at the border of Belarus and Lithuania.

Additional volumes from the Inčukalns underground gas storage in Latvia have also been offered in the auction.

Gazprom Export concluded the first auction in September 2015, signing deals with 15 clients with volumes totaling over 1.2 bcm.

LNG World News Staff