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On the EU Energy Platform, offers for 13.4 billion cubic meters of gas

On the EU energy platform, in the first joint tender for gas procurement, offers for 13.4 billion cubic meters of gas have been received, the European Commission reported on Tuesday.

Vice-President of the EC Maroš Šefčovič announced the successful results of the first international tender for joint gas procurement in the EU this morning.

The EU managed to attract offers from 25 gas suppliers worth more than 13.4 billion cubic meters of gas, exceeding the 11.6 billion cubic meters of joint demand submitted by companies from the EU under the recently established AggregateEU mechanism.

Service provider Prisma connected international suppliers with European clients on the AggregateEU platform, with a total of 10.9 billion cubic meters, of which 8.7 billion cubic meters via pipeline and 2.2 billion cubic meters of liquefied natural gas (LNG), Šefčovič said.

– This is a valuable success of an instrument that did not exist five months ago. The Commission played the role of aggregator, and now it is up to the parties to conclude agreements. This is an excellent result for all involved – he stated.

Companies from the EU will be able to negotiate the terms of supply contracts directly with suppliers, without the involvement of the Commission. This will support the efforts of EU member states to meet gas storage obligations for the next winter while simultaneously strengthening collective energy security at competitive prices, they say at the EC.

Further tenders will be announced every two months until the end of the year. The next round of tenders is expected to be launched in the second half of June.

AggregateEU is an EU mechanism that enables the aggregation of gas demand and joint procurement. It was established as a key component of the EU energy platform in its effort to avoid reliance on Russian gas by replacing it with more reliable alternatives. Its goal is to ensure sufficient gas supply while reducing the risk of competition among companies in the global market.

Member states have committed to participate in the aggregation of demand for at least 15 percent of their national gas storage targets, which corresponds to about 13.5 billion cubic meters of gas annually.

The European Commission has engaged the service provider Prisma European Capacity Platform to establish a mechanism for demand aggregation and joint procurement through a secure online platform.

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