Gazprom Export plans gas auction in September

Gazprom Export said it will conduct a gas auction thus addressing the challenges of the evolving energy market with the intention to test a new mechanism of gas sales in Europe.

According to a statement by Gazprom Export, this sales mechanism will become an additional instrument but not an alternative to the system of long-term contracts that provide energy security to Europe,

The auction will be carried out by the company in September this year with gas supplies during the delivery period in winter 2015/2016 to several delivery points in North-West Europe, at the choice of a customer, with total volume of 3.2 bcm.

Image: Gazprom