The EU is preparing for the first group gas purchase order

On April 25 of this year, the platform for requests to participate in the first auction for general purchases of natural gas in the European Union (EU) opens. All companies from EU countries, as well as the European Energy Community (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Georgia, Moldova, Montenegro, Serbia and Ukraine) can participate in it.

The EC reports that all those who want to participate in the auction must complete their registration by April 20.

Purchase requests will be accepted in the period April 25 – May 2, 2023.

There are already 717 registered participants in the platform, where requests and offers from sellers will be collected, and ICGB, which manages the gas connection IGB (Komotini – Stara Zagora), has also joined the operators.

It is clear from publications on the website of the European Commission that auctions will be held every two months through the platform, the duration of which will be two weeks. The system allows trading of both pipeline and liquefied natural gas. Supplies can be used for winter reserves or to cover consumption now.

The EC notes that each country plans its own supply of natural gas, but with changes to the Gas Directive made in 2022, members of the community have the obligation to maintain reserves in the winter period in the amount of 15% of their annual consumption. Complying with this requirement last year many companies pumped gas when its price was high in the market. Now in EU gas storages the price of gas is significantly higher than that on the spot markets.

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