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Gazprom Export opens up ESP for delivery to Dutch TTF gas hub
16 January 2019 , 10:10Neftegaz.RU5835
London, January 16 - Neftegaz.RU. Gazprom Export is making Russian gas available for delivery to the Dutch TTF hub - Europe's biggest - in the Tuesday auction on its Electronic Sales Platform, or ESP, Platts reported.
Gas will be offered for TTF delivery in February, the 1st time Gazprom Export has included the TTF hub as a potential delivery point since it started selling gas on the ESP in September 2018.
The inclusion of TTF is likely an attempt by Gazprom Export to gauge interest in the hub as a delivery point and marks a further increase in the flexibility of the electronic platform as the company looks to sell additional gas on top of volumes sold under its traditional long-term contract model.
Gazprom Export has now sold a total of 294 million m3 for delivery across the Q1 since the start of 2019 - the equivalent of some 42 million cu/d across the 7 daily auctions so far in 2019.
Majority of the sales this year have been for February delivery to Gaspool, with a small volume sold for March delivery to Gaspool and some gas sold for February delivery to the German NCG hub, the Arnoldstein interconnection point and the Slovakian virtual trading point.
The total volume of gas sold on the ESP - which started in late September 2018 as a mechanism for selling gas outside of Gazprom's traditional long-term contract model - is now 1.93 Bcm.
Gazprom Export has sold gas via the ESP in 3 waves to date. The 1st was for delivery of gas in the Q4 of 2018, the 2nd for delivery predominantly in January 2019, and now a 3rd wave.
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