Rus News Journal

Gas stock exchange have confirmed without the prices and rules

Head Minpromenergo Victor Khristenko has signed the order on the statement Mezhregiongaz as a platform for exchange trade in gas. However the part of standard documents is not co-ordinated yet with Gazprom also it is not signed. The question on the prices for gas for the industry for 2007 also is opened.
yesterday head Minpromenergo Victor Khristenko has signed the order which has confirmed Open Society Mezhregiongaz as the organisation which are carrying out carrying out of experiment on exchange trade by gas in a format 5+5 . The auctions should begin in November, 2006, within a year at a stock exchange should be sold 10 mlrd gas cubic metre (5 mlrd will sell Gazprom 5 more mlrd - independent manufacturers).

that the gas stock exchange will begin work on base Mezhregiongaz officials spoke for a long time. It was originally supposed that the trading platform will be confirmed simultaneously with rules of the auctions which were developed in Gazprom . However coordination were tightened. As a result the stock exchange has been confirmed by the separate order, and work on rules of the auctions proceeds. As have informed in Minpromenergo, a stumbling-block is the problem of delivery of gas and providing of access of independent manufacturers to a transport infrastructure Gazprom . At a stock exchange those directions on which there are free capacities on gas prorolling will bargain only. It is supposed that the information on possibility of delivery of gas in each direction Gazprom will give before the beginning of the auctions.

we will remind that, executing the commission of president Vladimir Putin to liberalise the market of gas, Minpromenergo intends to carry out gradual transition to three-section model of the gas market. In adjustable sector as much as possible long there will be a population. The share of the exchange will gradually increase. And the industry and power remain in partially adjustable sector - the prices for it will be defined by long-term contracts of manufacturers with industrial consumers with the assistance of the state.

in spite of the fact that head Minpromenergo Victor Khristenko has declared recently possibility of increase in volumes of the gas realised at free prices, with 10 mlrd to 30 mlrd cubic metre, its subordinates underline that the gas stock exchange is not considered by the government as the tool of definition of market price of gas which could become a basis for long-term contracts. The director of department of a structural and tariff policy in natural monopolies Minpromenergo Vyacheslav Kravchenko has explained that the prospective volume of realisation of gas at a stock exchange is too small to serve as the indicator. As he said, experiment sets as the purpose only to test technology of the auctions and gas delivery the same as it has been made in the electric power market.

in that, as to a price level on gas in whole, in Minpromenergo say that the government yet does not consider scenarios of sharp rise in prices for gas or mass transfer of industrial consumers into long-term contracts. In the ministry, however, do not exclude that taken in the budget of the next year increase of the gas prices for industrial consumers and energetikov on 15 % can be reconsidered towards increase.