Gunvor might return to European electricity market
MOSCOW. Sept 26 (Interfax) - Oil trader Gunvor, one of the leading traders in the world and founded by Russian businessman Gennady Timchenko, has filed an application with Bulgaria's State Commission for Energy and Water Regulation (DKEVR) for a license to sell electricity in the country, the Bulgarian information agency Dnevnik has reported.
The company hopes to receive a 20-year license for electricity sales.
A spokesperson for Timchenko confirmed this to Interfax, saying that the trader has presented information on its financial status, technical possibilities and offers for total sales in the next four years to the commission. "We expect a final decision on this to be made on Monday," he said.
The company earlier traded in electricity in Europe but announced in March 2011 that it would no longer be pursuing this business. The decision was made because of "difficult trends on the market".
Gunvor is also engaged in gas and LNG trading, coal sales, and Kyoto Protocol instruments.
