Gazprom Expands Electronic Sales Contracts
Russian pipeline export monopoly Gazprom plans to roll out seasonal, calendar year and gas year delivery options for its electronic sales platform (ESP), according to Gazprom Export head Elena Burmistrova.
“At the same time, we are aiming to further promote contracts with shorter delivery periods. In the future, we are planning to develop trading using time spreads, which will allow us to further enhance the efficiency of the ESP,” she said in a statement November 12.
Gazprom has sold more than 15bn m3 of gas in Europe on its ESP since its launch in September last year, the company’s export arm said.
More than 60 companies have now signed up to ESP and over half the volume sold was delivered to the Gaspool hub in Germany.
ESP has helped Gazprom Export utilise spare pipeline capacity and to sell to customers otherwise unable or unwilling to buy Russian gas under long-term contracts. The platform initially offered delivery only in the next month and the month after that, but added more options at a later stage, including day-ahead delivery.