Gazprom auction finds new buyers – but only 30% take-up

Gazprom auction: Russian gas giant Gazprom’s first attempt to sell gas into Europe through spot auctions last week appears to have met with  mixed success. While sources close to the company told Kommersant it had completed around 40 transactions with 15 (mainly new) medium-sized companies, it only managed to offload around 1bn m³ of the 3.2bn m³ that it put up for sale, although the average sale price was higher than it traditionally commands through long-term contracts. 

Source: Kommersant