Registering long-term contracts on exchanges could balance markets: Rosneft

International exchanges could register long-term energy supply contracts to balance markets, Rosneft CEO Igor Sechin said Oct. 28 during the Eurasian Economic Forum in Verona.

"The world's largest exchanges, such as New York, London and Shanghai, which register most transactions, could also register long-term energy supply contracts, thereby helping to balance the markets," Sechin said.

Russian officials have frequently pointed to the rise of spot transactions as a key factor driving high energy prices, and called for increased use of long-term supply contracts.

Sechin added that the current gas crisis in Europe confirms the delicate balance in the market and highlights the risk of forcing energy transition at the expense of traditional energy markets.