Volume and price continue to fall in Russian auctions
A total of 37.2 million cubic metres (Mm3) traded in Russia’s latest Mezhregiongaz (MRG) auction with a ten-day delivery mechanism on 28 November, according to figures published on MRG’s website on Friday.
Gazprom re-entered the market with a minor sale totalling 1.4Mm3, while independents sold a combined total of 35.8Mm3 (see separate table).
In the previous session (20 November), 59.9Mm3 were dealt, with independents selling the entire volume.
The weighted average price for the gas at the point of sale stood at rouble (Rb) 1,139.65/thousand cubic metres ($41.66/1,000m3) in the latest session, down from Rb1,248.49/1,000m3 in the previous session. The auction price reached one of the year’s lows, trading at only 124% of regulated price during a period of traditionally high demand. The slump in demand is blamed on warm temperatures as well as a significant fall in industrial demand driven by the global financial crisis.
The weighted average price including delivery totalled Rb2,129.73/1,000m3 ($77.85/1,000m3), compared with Rb2,129.73/1,000m3 in the previous session. The gas is to be delivered from Vyngapurovskaya and Nadym compressor stations.
The average price this year has been at 138.2% of regulated price. A total of 6.06 billion cubic metres has traded on MRG this year, inclusive of the latest session. RK
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19 Jun 2013 16:25
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