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EU attracts over 13.4 bcm in first joint gas purchasing tender

The EU has attracted bids from 25 supplying companies equivalent to more than 13.4 billion cubic meters of gas (bcm) – surpassing the 11.6 bcm of joint demand that companies submitted via the AggregateEU mechanism, the European Commission announced on Tuesday (16 May).

The international suppliers have already been matched with the European customers on AggregateEU, amounting to an overall volume of 10.9 bcm. This covers 8.7 bcm of gas via pipeline and 2.2 bcm of LNG, the Commission said.

EU companies will now be able to negotiate the terms of the supply contracts directly with the supplying companies, with no involvement of the Commission. 

“This is a remarkable success for an instrument that did not exist some five months ago. The Commission has played its role as aggregator and matchmaker, and now it is for the respective parties to conclude their agreements. It is a win-win for all parties,” said Maroš Šefčovič, Vice President of the European Commission.

Further tenders will follow every two months until the end of the year. The next tendering round is expected to be launched in the second half of June, the Commission said.

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