Oct 29 (LNGJ) - Gazprom said it was backing improvements in the natural gas trading activities on the St. Petersburg International Mercantile Exchange (SPIMEX), which was launched in 2014. Gazprom offers the bulk of the gas available for purchase at the exchange and is responsible for making sure all gas sold at SPIMEX is transmitted to consumers. The gas sold at the exchange is consumed in 48 constituent entities of the Russian Federation.
Gazprom and SPIMEX plan to carry out joint work on the further development of gas exchange trading, which includes efforts towards the enhancement of the metering system used in gas supplies and the application of new trading formats and instruments. The company said that it would also take part in improving the legislative framework.
