Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Natural Gas

Russia's Gazprom Export to begin offering within-day gas on ESP

Emissions | Renewables | LNG | Natural Gas | Oil | Crude Oil | Refined Products | Metals | Steel | Raw Materials

Market Movers Europe, Dec 9-13: Leaders meet in Paris to try to break Ukraine gas transit impasse

LNG | Natural Gas | NGL

Platts LNG Alert

Capital Markets | Commodities | Electricity | Energy | LNG | Natural Gas | Shipping | Leveraged Finance & High Yield | Materials | Building & Construction | Financial Services | Banking | Infrastructure | Structured Finance

Infrastructure Summit

Natural Gas | Natural Gas (European)

Interview: Russian gas via Ukraine 'most unlikely' to be turned off January 1: strategist

Russia's Gazprom Export to begin offering within-day gas on ESP

Highlights

Aims to simplify trading on electronic platform

Transaction confirmation process eased

Market interest in ESP expected to increase: CEO

London — Russia's Gazprom Export said Tuesday it would start offering gas for within-day delivery on its Electronic Sales Platform (ESP) as it continues to evolve the offering of the platform.

The ESP -- where Russian gas is sold in daily auctions on top of its deliveries via long-term contracts -- began sales in September last year and has seen almost 16 Bcm of gas sold to date.

Up to now, Gazprom Export has offered gas for delivery on a day-ahead, balance-of-month, months-ahead and quarters-ahead basis.

"The platform now offers a new standardized commercial product," Gazprom Export said.

"The framework agreement now includes a description of deal procedures as well as nomination procedures for products with delivery period 'within day,'" it said.

The company said it was expanding operation opportunities and simplifying trading on the platform.

LONGER CONTRACT PERIODS

The ESP is also now providing an opportunity to sign framework agreements with a contract period lasting up to January 2022.

Contracts were previously limited to one calendar year.

This, Gazprom Export said, opens up the possibility to offer longer delivery periods including season-ahead andyear-ahead.

"In addition, the company has lifted the 1 Bcm of gas restriction for contract obligations within one commercial framework agreement," it said.

The transaction confirmation process on the ESP has also been simplified so that dealings between Gazprom Export and its counterparties have become less formalized, consequently reducing the amount of paperwork.

"We believe that market interest in our platform will increase as a result of our latest innovations," CEO Elena Burmistrova said.

-- Stuart Elliott, Stuart.Elliott@spglobal.com

-- Edited by James Burgess, james.burgess@spglobal.com