EU will hold first joint gas purchase tender in April

According to a source close to the subject, the European Union (EU) is expected to launch the first joint gas purchase tender for member states at the end of April and the relevant contracts are expected to be signed this summer.

According to the news of Montel-Foreks, it is also stated that at least 13 billion mᶟ is expected to be purchased through the initiative this year. This created platform became one of the strategies of the EU to ensure the restocking of gas storage facilities due to the interruptions in Russia’s flows amid the consequences of the Ukraine war.

Prisma, the capacity reservation platform chosen to organize and operate the joint gas purchasing platform, is working to facilitate matching between aggregate demand and suppliers.

The source said that the first supply agreement is expected to be signed by June or July, but the tenders will be held throughout the year.

Total demand is expected to reach 23-24 billion mᶟ to be tendered on the platform over the next three years, with buyers from 27 EU members plus Ukraine, Moldova and Serbia.

The European Commission (EC) envisions a central buyer program where a gas company negotiates on behalf of other smaller companies. Speaking about the progress of the platform last week, EC Vice-President Maros Sefcovic said, “We aim to have a number of central buyers representing different company groups to promote competition for the ultimate benefit of European consumers.” used the phrases.

Stating that the joint gas purchase plan will protect against gas shortages, Sefcovic added that he will fight high energy prices.

Gas prices reached historic record levels last year due to intensifying concerns over supply in Europe as Russian gas, which met 40% of the EU’s needs before the war between Ukraine and Russia, was largely cut off.

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