PRISMA introduces mid-term tenders through AggregateEU
Published by Jessica Casey,
Editor
LNG Industry,
PRISMA European Capacity Platform GmbH has announced that AggregateEU will not only remain active in 2024, but will also expand its services. Up until now, gas buyers and sellers could participate in short-term tenders and submit their monthly demand until March 2025.
To address the growing demand for stability and predictability among participants, PRISMA, on behalf of the European Commission, has broadened its product portfolio by introducing Mid-Term Tenders. In these tenders, buyers will be able to submit their demand for seasonal six-month periods, going from April 2024 to October 2029.
The first mid-term tender on AggregateEU is scheduled to begin on 15 February 2024.
Maroš Šefcovic, Executive Vice President of the European Commission, said: “This follows a request from some market actors, namely industrial consumers, for a new product that would better match their procurement strategies and needs in terms of stability and predictability for contracting gas supplies. In addition to buyers, the mid-term product will provide further predictability to suppliers, especially of LNG, that may enable further LNG supplies through AggregateEU.”
In that spirit, mid-term tenders are intended to:
- Support industrial consumers in exploring additional trading options under a pseudonym, i.e. attract buyers purely based on the demand profile.
- Support sellers in identifying buyers who might be interested in a longer trading partnership – that is, up to five years.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/22012024/prisma-introduces-mid-term-tenders-through-aggregateeu/
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