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:

  1. Support industrial consumers in exploring additional trading options under a pseudonym, i.e. attract buyers purely based on the demand profile.
  2. Support sellers in identifying buyers who might be interested in a longer trading partnership – that is, up to five years.