FAS approved a draft trading policy of “Gazprom Gazenergoseti” JSC

It is the first such document on the market of liquefied hydrocarbon gas

FAS has exposed performance issues on this market: absence of a market price indicator and transparency of goods selling.

The trading policy determines the principles and channels of selling liquefied hydrocarbon gas by “Gazprom Gazenergoseti” JSCand its subsidiaries as well as the procedure for selecting counteragents.

The Policy specifies pricing procedures, scope of sales and a step-by-step mechanism of concluding supply contracts on the wholesale and small wholesale markets in the Russian Federation.

“Under market misbalance and absence of a price indicator, the document is approved to enable transparent sales of goods by “Gazprom Gazenergoseti”. FAS hopes that other market participants will similarly devise and adopt such trading policies”, emphasized Head of FAS Department for Regulating the Fuel-and-Energy Complex, Dmitry Makhonin.

Reference:

Earlier, FAS approved the trading policies of “Bashneft” ANK” PJSC, “Gazprom Neft” PJSC, the “LUIKOIL” Group and “Rosneft” NK” PJSC.

The Trading Policies’ objectives are:

- Ensuring maximum transparency of sales activities of oil companies for the existing and current buyers, regulators, personnel of oil companies and other interested persons

- Preventing violations of the current law of the Russian Federation

- Informing about the policy of oil companies in the field of selling oil products on the wholesale markets in the Russian Federation, particularly, on the procedure of selecting counteragents and pricing.