Gazprom Export to hold gas auction for Baltic States in March

Gazprom Export will hold a second gas auction - for supplying natural gas to the Baltic States, the company said

Gazprom Export will hold a second gas auction - for supplying natural gas to the Baltic States, the company said in a statement received by Interfax on Feb. 27.

The auction will be held in mid-March 2016. Gas supplies will be sent in the second, third and fourth quarters of 2016 to the natural gas measurement station in Kotlovka (on the border between Belarus and Lithuania). The natural gas at an underground gas storage facility in Incukalns, Latvia, will also be on sale. In all, over 560 million cubic meters of natural gas will go on auction.

More details on the auction, terms and conditions, and related documentation will be published later on Gazprom Export's website.

"This form of sale adds to the system of long-term contracts that provide Europe's energy security," the company said.

Gazprom Export held its first public sale of natural gas in September 2015 for deliveries through the Nord Stream gas pipeline during the 2015/2016 winter. The auction resulted in more than 40 deals with 15 contractors for a total volume of over 1.2 billion cubic meters of natural gas.

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