European spot gas auction: Gazprom’s achievement in selling 1.23 bn m³ at an average price of €203.2 per 1,000 m³ at spot auction earlier this month is being greeted as a success by the company. In the course of the three-day process, the Russian gas supplier signed 40 deals with 15 contractors from 39 companies, including E.ON, Engie, Eni, Total, RWE, BP, Novatek, and Goldman Sachs, as well as Gunvor, Glencore and Vitol.
It now hopes to use further auctions to sell around 10% – around 12 bn m³ – of its total exports, although analysts believe that it could be some years before it manages to hit that volume of sales.
It now hopes to use further auctions to sell around 10% – around 12 bn m³ – of its total exports, although analysts believe that it could be some years before it manages to hit that volume of sales.
Source: rbth