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Ukrainian Universal Exchange will hold two special auctions for the sale of liquefied gas for population needs

Ukrainian Universal Exchange will hold two special auctions for the sale of liquefied gas for population needs. The schedule of trades contained in the timetable of auctions, that was approved on the meeting of the Auction Committee (AC) on August 4, as reported by source in the Committee to Oilnews.

According to him, in addition to the previously announced auction on August 12, another auction will be held on August 21. "Resources of August are planned to be sold on the first auction, and of September on the second," - said the source.
He also noted that the schedule of the special auctions approved till the end of the year. So the auction will be held on September 23, October 21, November 20 and December 18, 2014.

As previously reported, sales volume on each special auction will be 4 thousand tons. As reported by OilNews source in one of the state-owned companies, traded volumes will be devided between the "Ukrnafta" and "Ukrgazvydobuvannya" proportionally to the volume of their plants production.

At the same time, the source said that the question remains open regarding the schedule of special auctions. "In the Decree № 1064there is a variation relative to the volumes that are to be sold on a commercial trading. It is not clear what the residual volume should be exhibited at the auction: the balance of monthly production after special auction or the remainder of 4 thousand ton, put up for auction. We are now consulting", - said the representative of AK.

As reported by OilNews, Ukrainian Universal Exchange announced on August 12, the first in a long time specialized auction on liquefied gas. According to the changes in the regulatory of state resources trading, the resolution of the Cabinet of Ministers № 1064 from 2011, entered May 16, 2014, 4 thousand tons are to be put at special auctions monthly. The starting price is defined as the product of the price in 2013 (2 130 UAH/t) and the index of natural gas prices for the population.

Due to legislative catatonia arising after termination of the First independent exchange, conducting auctions on state energy was blocked. State-owned companies established holding of commercial tenders for liquefied gas, oil and gas condensate, however, the companies’ management had scruples to hold special auctions that were involved in a number of corruption scandals.
Last special auction took place on January 31, 2014. Earlier, the representatives of the regional gas companies reported that from May 1 sale of cylinder gas to the population is stopped.

Source: Oil-gas-energy http://oil-gas-energy.com.ua

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