Several Baltic countries recently purchased natural gas from Gazprom Export through an auction held recently, resulting in the sale of over 420 million cubic meters of gas in 80 lots for six clients.
“We have managed to sell more than three-fourths of the whole volume offered for the Baltics, to earn additional revenues, and to gain valuable experience," Alexander Medvedev, deputy chairman of the Gazprom Management Committee, said.
Elena Burmistrova, director general of Gazprom Export, said the company will use this auction model in other markets.
“The auction's results demonstrated that a niche for auction gas trade exists, and that this trading scheme can successfully work on the Baltic market too," Burmistrova said. "We are satisfied with the results of our second gas auction, and we will use this model for the other European gas markets as well."
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