Gulf Oil and Gas accountACCOUNT

Gazprom Facilitating Development of Gas Exchange Trading in Russia

Source: www.gulfoilandgas.com 10/28/2020, Location: Asia

The Gazprom Board of Directors took note of the information on the development of the natural gas exchange trading system.

It was noted that the participation of the Gazprom Group entities has been systemically important for the organized gas exchange trading activities at the St. Petersburg International Mercantile Exchange (SPIMEX) since the launch of said trading in 2014. The Group offers the bulk of the gas available for purchase at the Exchange and is responsible that all gas sold at SPIMEX is transmitted to consumers.

In addition, Gazprom and SPIMEX carry out joint work on the development of gas exchange trading, which includes, inter alia, the efforts towards the enhancement of the metering system used in gas supplies and the application of new trading formats and instruments.

In order to further increase the gas exchange market liquidity, the Group will continue to permanently participate in organized trading. The volumes of exchange trade will be determined with due consideration of the limits established by the law, season-related possibilities of the resource base and the Group's gas transmission system, and economic benefit principles. The Company will also take part in improving the legislative framework.

The Management Committee was instructed to continue their work on developing the exchange trading system for natural gas.

Background
Exchange gas trading at SPIMEX has been conducted since 2014; the gas sold at the Exchange is consumed in 48 constituent entities of the Russian Federation.

Natural Gas News in Russia >>

Russia >>  1/19/2021 - A working meeting took place between Vladimir Putin, President of the Russian Federation, and Alexey Miller, Chairman of the Gazprom Management Commit...
Russia >>  1/19/2021 - PAO NOVATEK (NOVATEK) announced that Cryogas-Vysotsk, a joint venture with Gazprombank, has produced its one millionth ton of liquefied natural gas (L...

Australia >>  1/18/2021 - Woodside Energy Trading Singapore Pte Ltd (Woodside) and Uniper Global Commodities SE (Uniper) have agreed to amend the binding long-term sale and pu...
United States >>  1/15/2021 - Following a detailed analysis of the climate positions of the American Petroleum Institute (API), Total announces its decision not to renew its member...

Malaysia >>  1/7/2021 - PETRONAS through its subsidiary, PETRONAS Carigali Sdn Bhd (PCSB), announced that it has taken over the operatorship of the E11 gas hub, located 130km...
Argentina >>  1/6/2021 - Echo Energy, the Latin American focused upstream oil and gas company, is pleased to provide a commercial update regarding the Company's gas sales from...




Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 |

More News

Related Links

Gulf Oil and Gas
Copyright 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.