Electrocentrale - Oradea To Buy Gas Through Commodities Exchange

F.A.
Ziarul BURSA #English Section / 3 iunie 2008

Electrocentrale - Oradea has placed a bid to buy 9.5 million cubic meters of natural gas on the Romanian Commodities Exchange (BRM). If successful, it will be the first transaction involving natural gas concluded on a Romanian bourse. According to Rompres, the bid will be processed electronically on June 4th. The expiration date is 30 June, whereas the delivery period is 15 June - 31 July.

"The market infrastructure needed to trade natural gas was commissioned on 28 May. However, we waited for the first bids before we declared it inaugurated," BRM officials said.

Romgaz Deputy General Manager Razvan Stancu last week said his company was willing to sell natural gas on the new BRM infrastructure. In his opinion, the major gas consumers will also be interested in that type of transaction. In March 2007, BRM concluded an agreement with the former National Natural Gas Regulatory Authority with a view to setting up the exchange infrastructure required to trade natural gas.

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