Gazprom held auctions for winter gas delivery

Only a third of the total on offer went, but it was a significant move for the Russian company

Russian export monopoly Gazprom Export tried a new approach to gas sales in September: it held auctions for winter gas delivery (1 October to 31 March), with volumes on offer at two points. Only a third of the 3.2bn m³ total on offer went, but it was seen as a significant move and one that would be welcomed by traders, allowing new counterparties to acquire gas directly from Gazprom and so improving liquidity marginally. The European Commission is investigating Gazprom for allegations that it uses discriminatory pricing and that it has abused of its market position in the European Union’s gas markets, mainly in central and eastern Europe – the former Soviet bloc – where it traditionally domi