Viewpoint: EU's Joint Buying Platform Lacks Transparency, Purpose

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.
EU,Barrels,Europe,Oil,Stocks,Flucuating
Shutterstock

Despite trumpeting the success of the EU’s second tendering round for the AggregateEU joint gas procurement platform last week, the European Commission will not confirm how many supply contracts were signed or at what average price levels following an inaugural round concluded in May. A Commission spokesperson says that it is not in a position to share volume or price data as the signing of contracts occur outside of the platform. But by failing to back up whether this tool is fit for purpose, Brussels not only proves that the platform wastes limited resources, but more importantly it shows an EU that is barreling through energy policy without proper scrutiny.

Topics:
Policy and Regulation, Ukraine Crisis, Gas Supply, Gas Prices, Gas Demand, Gas Inventories, LNG Supply, LNG Demand, LNG Prices
Wanda Ad #2 (article footer)
#
Carefully balanced supply-demand fundamentals in the global and LNG market continue to keep traders on their toes for unexpected disruptions to the status quo.
Tue, Oct 3, 2023
Iraq says it has sweetened terms for two upstream bid rounds as it emerged that China's Sinopec is abandoning a gas development contract it was awarded in 2021.
Tue, Oct 3, 2023
India slashed prices for deepwater domestic natural gas by 18% for the October 2023 to March 2024 period, which could hamstring domestic gas production.
Tue, Oct 3, 2023