The European Commission announces the first auction on the Joint Gas Procurement Platform. What volume did the Republic of Moldova request
The first auction process on the European Union's joint gas purchasing platform has been a "remarkable success", announces the European Commission. Energy companies from the EU bloc and other participating countries, including the Republic of Moldova, had by last week submitted bids totalling more than 11 billion cubic metres on the AggregateEU platform, while bids from suppliers participating in the first round exceeded 13 billion cubic metres.
The European Commission last week announced the launch of the first joint procurement of natural gas in the European Union. The new scheme is designed to move away from Russian gas and is open to both EU and non-EU companies, including Moldova.
About one-fifth of the total volume of natural gas on the platform is liquefied natural gas, which is delivered by ship to terminals mainly on the Iberian Peninsula and the North Sea, with the remaining 80 percent supplied by pipeline.
In a press release, the Energy Ministry said Energocom has requested offers to buy on the EU's single gas purchasing platform volumes of 5 thousand megawatts per hour each month, or a total of 60 thousand megawatt hours, the minimum volume allowed by the platform, in order to test its operation. The prices received upon Energocom's request for the Republic of Moldova are based on the quotation of the international exchange Title Transfer Facility in the Netherlands.
The price for a thousand cubic metres on this exchange reached $350 this morning, due to the recent high temperatures.
Recently, Energocom announced that it still has about 150 million cubic meters of natural gas in stock out of the total 600 million purchased in 2022 for the cold season.
The remaining gas in storage constitutes about 10 percent of the resources consumed during the cold period of the year.
