Exec: SPIMEX sees gas trade volume rising to 15–20 bcm in 2020

MOSCOW, Jan 14 (PRIME) -- The St. Petersburg International Mercantile Exchange (SPIMEX) expects sales of natural gas on the trading floor to rise to at least 15 billion cubic meters (bcm) in 2020 from 12.875 bcm in 2019 and sets the target for sales at 20 bcm, Managing Director for the gas and electric power market Sergei Trofimenko said on Tuesday.

“The main issue is that Gazprom cannot, as it thinks, allocate additional volumes on the bourse without risks… That’s why we discussed last year quite actively where to take additional volumes. We forecast that we will at least reach last year’s volume this year by looking for additional resources. We plan to show the amount of 2017, this is the target figure we plan to reach.”

In 2019, the trading floor completed procedural framework for the launch of commercial balancing of untaken gas under the agreements and elaborated a concept of 2–13-month agreements with the use of instruments of the futures market.

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