PRESS: Gazprom ready to trade gas on Moscow Energy Exchange

MOSCOW, May 26 (PRIME) -- Russian gas giant Gazprom is ready to participate in gas trading sessions of the Moscow Energy Exchange, business daily Vedomosti reported Thursday, citing a representative of the company.

“Gazprom has received a relevant proposal from the trading floor and is ready to participate. The bourse is currently working on the trade mechanism,” the official told the daily.

Gas is now traded only at the St. Petersburg International Mercantile Exchange, or SPIMEX. According to CEO of the Moscow Energy Exchange Sergei Trofimenko, the volumes of gas trade and the participants are unknown so far but the bourse has clients who are potential gas buyers: industrial facilities and power producers.

The exchange has already sent an application to the central bank, containing rules of the market trade, while Settlement Depository Company submitted its rules of clearance transactions to the authority for approval, Trofimenko said.

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