Gas Auction

In 2015 and 2016 Gazprom Export LLC performed three gas Auctions. The auction mechanism of export gas sales naturally complements our existing system of long-term contracts.

Gazprom Export carried out the first gas Auction in September 2015. Addressing the challenges of the evolving energy market, the company tested a new mechanism of sales for gas delivered via the Nord Stream pipeline. As a result over 40 lots were sold to 15 clients, with a total volume of over 1.2 bcm of gas.

The second Auction for the gas supply to the Baltic States in the 2nd, 3rd and 4th quarters of 2016 was held by Gazprom Export in March 2016. At the auction more than 80 lots were sold to 6 clients with a total volume of more than 420 mcm of gas.

The third gas Auction bidding sessions were held from August 31st to September 2nd, 2016. This time, gas was offered at Greifswald, Gaspool , Olbernhau, Baumgarten and Arnoldstein delivery points. The auction’s results allowed to sign contracts with 11 customers for total volumes about 2 bcm of gas for supply during the winter season 2016/2017.

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