Gazprom’s commodities mkt sales quota to rise to 25 bcm Jul 1

MOSCOW, Jun 25 (PRIME) -- The Russian government will raise the sales quota for gas giant Gazprom on the commodity exchange to 25 billion cubic meters (bcm) on July 1 from the current 17.5 bcm, Deputy Director of the Federal Antimonopoly Service Anatoly Golomolzin told reporters on Tuesday.

“We have just decided to (allow) Gazprom to sell 25 bcm instead of 17.5 bcm. We have recently held a meeting with Gazprom on the matter. They are ready to provide this volume. So the government has decided at the meeting to abolish parity (with other gas producers). We must set these issues formally in corresponding governmental acts,” Golomolzin said.

Gazprom is the core gas seller at the Saint Petersburg International Mercantile Exchange (SPIMEX) but is not allowed to sell more than 17.5 billion cubic meters of gas. The sales must not exceed those of independent gas producers, while private companies are reducing sales.

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