Russia: Gazprom Aims to Streamline Gas Market

Russia: Gazprom Aims to Streamline Gas Market

The Gazprom Management Committee took note of the information regarding exchange trade in gas and the Electronic Trading Platform (ETP) development at Gazprom Mezhregiongaz.

It was noted that successful launch of the exchange and electronic gas trade required taking of actions in several key areas.

For instance, it is necessary to develop and introduce measures aimed at gradual removal of cross subsidization in gas prices. It is also necessary to streamline the Rules for Gas Supply to the Russian Federation and terms of transmission in order to improve performance of contractual obligations on the part of suppliers and consumers. Natural gas volumes supplied by Gazprom under annual and long-term contracts will have to be adjusted as well, taking into account the volumes intended for spot trading. At the same time, priority should be given to gas producers and consumers in development of exchange technologies used for the sales of actual gas volumes.

The specialized structural units were given assignments to create a program of actions on streamlining the gas market in Russia and launching well-coordinated gas trade.

Besides, it was tasked to continue the interaction with federal executive authorities on introducing amendments aimed at securing efficiency of well-coordinated gas trade into the effective regulatory system.

LNG World News Staff, March 22, 2013; Image: Gazprom