The EU plans to launch a platform for joint gas purchases

Vice-President of the European Commission Maros Sefcovic said that the European Union plans to launch a platform for joint gas purchases in April, the purpose of which is to reduce energy prices. 

Sefcovic said that more than 50 companies from all over the world have already expressed interest in cooperation with Europe through the energy platform. In the relevant section of the platform, companies will be able to formally present how much gas they want to buy as part of the first tender. 

One of the main advantages of the new project is the fact that now small and medium-sized companies will have the opportunity to buy part of the LNG cargo or directly contact large energy companies.

Back in December, the EU agreed to create a mechanism for joint purchases of at least 13.5 billion cubic meters of gas in 2023. Within the framework of this mechanism, the gas companies of the Union and companies consuming gas in the EU countries will present their needs for its import. Then applications will be collected for this volume of gas from all countries of the Union (which is 15% of the planned filling of underground storage facilities) and further search for LNG supply on world markets for joint purchases. It is worth noting that it will be impossible to buy Russian gas through this scheme.

At the moment, interest in joint purchases is already being observed from industrial gas consumers in such industries as the production of steel, aluminum, ceramics, glass and automobiles. The first contracts with suppliers from the USA to the Middle East and Africa are expected in June.