Gazprom to resume trading gas on SPIMEX on March 24
MOSCOW. March 20 (Interfax) - Gazprom will resume trading gas for shipment in April on the St. Petersburg International Mercantile Exchange (SPIMEX) starting March 24, the deputy director of the Federal Antimonopoly Service's (FAS) department for control of the fuel and energy complex, Olga Kukanova, said.
"Gazprom was issued warnings, and they reported for it, in the next trading sessions they will resume work on the exchange." Kukanova told Interfax.
Gazprom has not yet been available for comment.
Gazprom sat out the last two trading session - on contracts for delivery in February and March - after identifying tax risks under the current trading system.
Prior to when trading began, Gazprom warned the exchange that it would incur losses since it will not be able to return VAT for transporting gas to itself. After the first two months of trading, the company had losses, and Gazprom CEO Alexei Miller ordered that trading stop until the problems were resolved.
Officials believe that there are not any tax risks and demand that Gazprom return to the exchange.