The Russian Ministry of Energy has presented to government a proposal on the opening of an exchange market for natural gas, Rossiiskaya Gazeta reports. If approved, the market place could be allowed to trade up to 17,5 billion cubic meters of gas per year starting from year 2012.
The gas exchange system was tested in the period 2006-2009. Then, up to 7,5 billion cubic meters were traded per year electronically on the basis of the Mezhregiongaz company. The test showed that the gas traded had an average price 38 percent higher than the state-regulated prices. Analyst therefore conclude that there is sufficiently interest among consumers for gas more expensive than the state-regulated gas.
