Russia starts gas exchange trading

The start of the first gas exchange trading in Russia is expected at the site of the St. Petersburg International Mercantile Exchange (SPIMEX) on Friday. The preparations for the event were carried out during the last three months, and there is every chance of the successful implementation of the project, the senior managing director of the Exchange Anton Karpov said to the RIA Novosti.

The initiators of the project hope that the auction will help to create the most competitive and market prices for gas, to create a transparent market for this fuel. In addition, there is hope that independent producers will finally have access to a wider range of buyers.

The results of the start of the trading will be increased competition between Gazprom and independent gas producers, the co-director of the analytical department of Investkafe, Gregory Birg thinks.