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 Gazprom messed up first day of EU gas auction: bid prices were too high

Gazprom could not manage to enter into any transaction during the first trading session of the auction due to high bid prices, which had not attracted the buyers.

The press service of Gazprom Export has not made any comments on the results of the first trading day, Censor.NET reports citing ZN.UA

"The process can be described only when the result is reached - no one is going to reveal the know-how of the auction procedure," Gazprom Deputy Chairman Alexander Medvedev said.

According to him, the companies such as E.ON, Engie, Eni, Total, RWE, BP, Novatek (participated through its subsidiary NOVATEK Gas & Power), Goldman Sachs, as well as gas traders Gunvor, Glencore and Vitol were in the list of bidders.

The source of the Russian RBC outlet in RWE said that the company did not purchase gas during the first trading session as the price was unacceptable for it, while the auction did not provide possibility to reduce it.

Read more: Russia ready to offer gas discount to Ukraine in Q4, - Russian Energy Minister

It should be noted that Gazprom has long been stating its intention to reduce the role of Ukraine as a transit country for Russian gas to zero. Meanwhile, the reduction of energy dependence on Russia remains the official position of the EU, which actually became one of the reasons to put away the South Stream project and criticism of the Turkish Stream.

Such rapidly changing plans of Gazprom for the construction of gas pipelines have already been confusing for its partners.

Earlier, the European Union decided to invest efforts to support the pipelines alternative to the Turkish Stream. A resolution on "energy diplomacy" has been approved in Brussels according to which the EU starts creating conditions to reshape energy relationship with Russia.

In particular, Brussels has decided to focus on the promotion of the Southern Gas Corridor.

Source: По материалам российской газеты "РБК"
 
 
 
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