EU starts joint purchase of gas

Energy companies in European Union (EU) countries are preparing for joint purchases of natural gas with the new mechanism.

The European Commission has announced that the first book building process has been launched today, within the framework of the mechanism established for the joint purchase of gas from European companies.

Pointing out that with the application, the EU will negotiate better prices with international suppliers using its common market power, and thus, he pointed out that preparations will be made for the coming winter by refilling gasoline tanks in a coordinated and timely manner.

IT IS EXPECTED TO MAKE THE FIRST AGREEMENT BEFORE THE SUMMER

In the statement, it was indicated that the companies registered in the system have until May 2 to respond to the first call for bid collection, and that after the companies present their individual demands, the necessary volumes will be combined and the tenders globally. markets.

In the statement, it was indicated that Europe’s bulk gas demand will be matched by offers from international suppliers, and the participating companies will begin negotiations with suppliers on the terms of the contract for the purchase and delivery of gas.

In the statement, it was indicated that the first purchase agreements are expected to be made before the summer and it was announced that new tenders will be held regularly every 2 months during the next 12-month period.

THE SYSTEM IS OPEN TO THE PARTICIPATION OF NEW COMPANIES

In the statement it was recalled that so far 67 companies have registered to the gas purchase mechanism, and the system is open to the participation of new companies.

Emphasizing that the EU countries have committed to joint purchases of gas at a rate of at least 15 percent of their storage targets, it was stated that this means approximately 13.5 billion cubic meters of gas purchase per year. (AA)