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PM signs order to launch gas spot trade in Russia again

June 24, 2014, 13:43 UTC+3 MOSCOW
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MOSCOW, June 24. /ITAR-TASS/. Russian Prime Minister Dmitry Medvedev has signed a regulation permitting the sales of gas via electronic trading platforms, a second attempt to launch a spot trade of gas after a failed law on spot trade in 2012, according to a statement published on the government’s official website Tuesday.

“This step will favor the development of the physical spot trade of gas,” according to the statement.

The document eliminated all contradictions in the previous law, which hindered the launch of spot trade, according to the statement.

Spot trade would allow Gazprom to sell gas at prices below tariffs set by the government, but there will not be much interest in it because this market is already competitive enough, analysts polled by RBC Daily newspaper said.

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