Russian gas exchange to establish market price for domestic gas
15 Dec, 2006 12:51
Russian energy majors are trading on Moscow's new gas exchange for the second time this Friday. It is part of an experiment, launched last month to establish a market price for domestic gas.
Five fuel and energy giants – Gazprom, Nivatek, Itera, Rosneft, and Transnafta – are the sellers on the new exchange. Trading takes place once a month, with a move to more frequent sessions coming next year.The Ministry of Industry and Energy hopes the exchange will account for 10% of gas supplied to the domestic market.