Новости

15 January 2019

Gazprom Export successfully finalized standard framework contract for the Electronic Sales Platform

Gazprom Export successfully finalized standard framework contract for the Electronic Sales Platform. The template contract is published on the company’s website. The contract will allow to execute deals on ESP with short delivery periods (Day Ahead, Week Ahead, Balance of Month, Month Ahead, etc.). Terms and conditions of this Gas Sales Framework Agreement (GSFA) are more similar to the standard traded contracts on the European gas market. 

In order to be able to trade a full range of instruments offered on ESP, the participants are required to have signed GSFA before the start of the relevant Sales Sessions. In case of absence of relevant signed GSFA, ESP participants will have access to limited types of instruments to which standard procedures are applied. An updated Gas Sales Agreement will be used in this case to formalize the single completed Sales Sessions.

In accordance with the company’s internal procedures, Gazprom export has also revised requirements for financial qualification of applicants. The relevant changes have been implemented in the General Terms and Conditions.

 

Background
The Electronic Sales Platform is designed to physically sell natural gas to the European consumers, in addition to supplies under existing contracts. Gas sales through the ESP started at the end of September, 2018. Since the start of operations on the ESP the company has sold more than 1.8 bcm of gas having signed contracts with more than 20 clients.

 

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