The European Union reorganizes its strategy cut off your big addiction russian gas In the full occupation of Ukraine and to guarantee the security of energy supply. Brussels and its member states shield to Moscow It will be strengthened by, among other measures, increasing gas purchases from alternative countries, obligation for member states, reduction of energy consumption, obligation to fill gas tanks and now with the introduction of the first gas ports.
The European Union will take effect next week. mechanism for joint gas purchases with the aim of holding the first auction next May. The European Commission has launched a digital platform to combine gas purchase requests with energy sales offers to ensure the first match of supply and demand. connect buyers and sellers will then have to negotiate specific supply price terms.
Brussels will allow European companies interested in joint purchases to post their gas offers and solicitations on the platform from April 25 to May 2, after which the first auction will take place next month. The process will be repeated every two months to hold tenders until July of next year.
The main objective is to promote the reduction of Russian gas imports across Europe, facilitate the diversification of suppliers and focus on consolidating Europe. Increase in gas purchases from countries such as the United States, Algeria or Qatar. Therefore, the new community mechanism prohibits the participation of any company that has partners or ties to Russia, and the commercialization of Russian gas in sales is directly vetoed, with the aim of financially strangling the Vladimir Putin Government in the midst of the war.
This The European Commission is a kind of road show By twenty-seven to explain to companies deals with the technical details of the process. More than seventy Spanish companies, including energy and industrial companies, attended the meeting in Spain this Monday. In the case of Spain, the national companies involved include both potential buyers (marketers and industries) and sellers (energy groups that will resell gas through the community mechanism).
Mandatory contribution of each country
The participation of companies in the process is voluntary, but there are obligations that member states must comply with. And each country is forced to contribute a certain amount of gas to this collective offer, which must pass through the EU platform. Countries should ensure that their companies contribute the equivalent of 15% of the mandatory filling level, which must reach 90% of the capacity of their warehouses (i.e. 14% of the total capacity) for the coming winter. In the case of Spain, this obligation means that a total of 4.8 terawatt hours (TWh) of gas must be added to the community supply.
HE The Spanish government is confident that the new mechanism will serve not only to seek alternative suppliers to Russia, but also to relow gas market prices. “Our assessment of the platform is very positive, it is an opportunity to match supply and demand and encourage possible supply diversification,” explains Energy Minister Sara Aagesen. “Our expectation is that it will allow prices to fall.”
The new community system will serve to facilitate the signing of supply contracts in the medium term. match offers and demand For periods of one to twelve months, which in principle will serve to mitigate the effects of market volatility on a portion of consumption and may indirectly also have an impact on the overall price of the gas market.
Spain will use all its facilities
Given that all of Spain’s regasification plants (those who send and receive gas by ships) will be included as a potential entry point for marketed gas, it is desirable to play an important role in the new mechanism. The Spanish market has a large network of concentrated regasification plants. one-third of all EU capacity.
Causes the energy crisis a historic shake-up in the rankings of providers and buyers In the foreign trade of gas in Spain, which has become an important center for the purchase and re-export of energy amid the economic and energy earthquake caused by the war in Ukraine and the military occupation of Russia.
Gas exports from Spain to other countries, both by ship and by pipeline, have increased by 88% since the start of the war and until last February. 73,186 gigawatt hours (GWh) equivalents, according to Strategic Reserves Corporation (Cores) records. European countries are by far the main target for gas exports, intensifying 90% of sales in the last twelve months (compared to 65% weight in 2021).