Gazprom sold 1.23 bcm of gas for 250 mln euros at auction, average value of $231/thousand cubic meters
MOSCOW. Sept 14 (Interfax) - Gazprom Export sold 1.23 billion cubic meters (bcm) of gas for 250 million euros at its first gas auction with supplies in Q4 2015-Q1 2016, Gazprom Deputy CEO Alexander Medvedev told reporters.
The average gas price on the basis of what Medvedev said was 19.66 euro per thousand kilowatt-hours or $231 euros per thousand cubic meters.
Nevertheless, Medvedev said that the prices were higher than forward contracts for this period (the last deal for Gaspool was 19.7 euro per thousand kWh/$231 per thousand cubic meters).
He forecast the average weighted contract price for winter 2015/2016 for all Gazprom contracts at 195.9 euro per thousand cubic meters ($222.6).
He confirmed the estimate for exports for this year at more than 158 bcm, and the results of the auction were already set down in this forecast.
"I think that we will easily reach the figure of up to 10% of exports in 2016-2017, this is a realistic number," he said commenting on the future development of auction trading.
He said that among the buyers was "a substantial share" of new clients, which nevertheless, he did not name personally, citing a confidentiality agreement. However it follows that, from what Medvedev said, that gas traders were among those that bought gas.
Medvedev said that from a technical point of view, the auction proceeded without problems: "There were none, electricity worked, there were no attempts at hacking, our system was protected, none were denied the right to participate, there was no face control."