Gazprom Export Successfully Completed First Gas Sales Deal on the Electronic Sales Platform with Payment in Rubles

Gazprom Export has successfully completed the first deal of gas sales to Western Europe priced in rubles on the Electronic Sales Platform. The deal is a balance-of-month with NCG delivery point. The volume of gas sold is about 80 mcm.

“Today’s test deal has not just commercial but a highly symbolic meaning. So far it would be too early to provide any long term forecasts. For the first time in Gazprom Export’s history, a western European company buys gas and pays in rubles for it. Still we plan to further develop sales in rubles through our Russian Electronic Sales Platform”, – Gazprom Export’s Director General Elena Burmistrova highlighted.

Background

The Electronic Sales Platform is designed to physically sell natural gas to the European consumers, in addition to supplies under existing contracts. Gas sales through the ESP started at the end of September, 2018. Since the start of operations on the ESP the company has sold about 3,0 bcm of gas having signed contracts with more than 20 clients.