EU offers for the joint purchase of gas

The European Union (EU) began the first bidding process within the framework of the mechanism established for the joint purchase of natural gas by the member states.

The vice president of the European Commission, Maros Sefcovic, gave a press conference in Brussels on the joint purchase of natural gas by energy companies in Europe.

“I am pleased to inform you that the Commission has today launched the first international tender for joint procurement of gas under the EU Energy Platform.” Sefcovic said they aim to increase the security of energy supply and combat high gas prices.

Noting that the market reaction was positive and encouraging, Sefcovic said that 107 companies have participated in the gas purchase mechanism they have established so far.

Noting that in the first tender, 77 companies from Europe requested a total gas purchase of 11.6 billion cubic meters through May 2024, Sefcovic said that 2.8 billion cubic meters of that amount was liquefied natural gas (LNG).

Sefcovic indicated that offers could be submitted until May 15 for the first tender and invited all reliable international suppliers to participate in the tender.

Before the war between Russia and Ukraine, the EU consumed around 400 billion cubic meters of natural gas per year. Russia was the largest supplier of natural gas to the EU, but with the war, Russia’s natural gas shipments to Europe fell sharply and an energy crisis began to unfold. (AA)