Gazprom holds the first gas auction in the Baltic States

Gazprom has managed to sell 420 million cubic meters of gas at auction in the Baltic States, this is by 16% less than the offer of 560 million cubic meters and about 10% of the annual region consumption. The monopoly is satisfied with the outcome of the auction and sources of the Kommersant claim that Gazprom has received the price higher than under the long-term contracts. However, the sales volumes, according to experts, are small, and the monopoly is unlikely to be able to obtain substantial additional revenue from them.

Foreign trader of Gazprom Gazprom Export has held the second gas auction in its history and the first in the Baltic States, selling 420 million cubic meters from offered 560 million cubic meters to customers in the region. It was supposed to offer 470 million cubic meters to Lithuania, and the rest to Latvia. In 2015, Gazprom supplied about 4 billion cubic meters of gas in the Baltic States under long-term contracts (in Lithuania 2.2 billion, in Latvia - 1.3 billion, in Estonia - 0.5 billion cubic meters).