Balkan gas hub starts multilateral e-trade in natgas market
BAKU, Azerbaijan, Dec.20
By Leman Zeynalova – Trend:
BALKAN GAS HUB EAD will start multilateral trading as of 2 January 2020, on the trading platform on the organized exchange market, including a short-term segment (spot), a long-term segment and a brokering service, Trend reports citing Bulgaria’s Bulgartransgaz company.
The short-term (spot) segment of the platform will offer short-term standardized “within-day, “day-ahead” products, as well as products for the purposes of balancing the network of transmission system operators.
For the convenience of the members of the platform, a combination of several consecutive gas days will also be offered, such as products “weekend”, “individual days” and a combination of them. Trade will be conducted on an anonymous basis in accordance with the provisions of Regulation (EU) No 312/2014.
The long-term segment of the trading platform will offer products traded on medium-term and long-term basis, anonymously, as follows:
Monthly (up to 60 months ahead);
Quarterly (up to 12 quarters ahead);
Annual (up to 5 calendar years ahead).
The brokering service enables conclusion of gas purchase contracts by end customers/end suppliers directly connected to the Bulgarian gas transmission system, without incurring costs for membership of the trading platform and without the need to obtain access to network access and transmission services through the network. The brokering service will also provide the environment for administration of contracts concluded before 2 January 2020 concerning purchase and sale of natural gas for a period after 1 January 2020, less than or equal to one-year long, in compliance with the requirements of Art. 176, para. 3 of the Energy Act.
In relation to the above, BALKAN GAS HUB EAD begins registration of participants in these segments according to the procedure specified in section “Membership” on www.balkangashub.bg. In order to register, the interested parties need to complete the registration form and sign two copies of the Membership Agreement, which they can download from section “Membership” on www.balkangashub.bg. The registration form and its accompanying documents must be sent to the following email address: [email protected] with copy to [email protected] The originals of the completed and duly signed registration form and the accompanying documents shall be sent to the Registry Office of BALKAN GAS HUB EAD in a sealed envelope at: Residential area “Lyulin 2”, 66 Pancho Vladigerov Blvd., 1336 Sofia to the attention of Mrs. Simona Barakova.
The project foresees an increase in the capacity of the Bulgarian gas transportation system (GTS) and the use of a part of the Trans-Balkan gas pipeline to provide transit of Russian gas from the “Turkish Stream” and gas from the Southern Gas Corridor from Azerbaijan to the countries of the Balkan region and Italy.
Follow the author on Twitter: @Lyaman_Zeyn