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Gazprom sold three fourths of offered gas volumes at auction for Baltic states

Transactions were closed with the total volume over 420 mln cubic meters of natural gas

© Sergei Karpov/ITAR-TASS

MOSCOW, March 18. /TASS/. Gazprom Export successfully completed the natural gas auction for Baltic states held from March 15 to 17. Transactions were closed with the total volume over 420 mln cubic meters of natural gas, the export arm of the Russian gas holding said on Friday.

"We managed to sell over three fourths of gas volumes offered in the Baltic destination, make extra revenues and acquire valuable experience," Deputy CEO of Gazprom Alexander Medvedev said.

"Results of the auction showed a niche for auction gas trading exists and this sales mechanism may successfully operate on markets of Baltic states as well. We are satisfied with the auction outcome and will also use this model for other gas markets in Europe," Chief Executive of Gazprom Export Elena Burmistrova said.

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