Balkan Gas Hub Applies for 35-Year Licence to Organize Nat Gas Wholesale Trade Platform
Balkan Gas Hub EAD has applied for a 35-year licence to organize a natural gas wholesale trade platform, the energy regulator said. A report on the application has been posted on the regulator's website and the regulator's experts say there that they find the applicant capable of organizing a gas exchange.
The applicant argues that as it has already been issued a 35-year licence as operator of a gas transmission network, it needs the new licence to be able to comply with EU Regulation 312 of 2014 on gas balancing of transmission networks for the period of its gas transmission licence.
Balkan Gas Hub EAD says in the application that more licences for operators of gas transmission networks are expected to be issued for Bulgaria's territory.
The report on the licence application will be discussed at an open meeting of the regulator on March 9.
Balkan Gas Hub say in the application that they have already developed and commissioned a GRP segment on the gas trade platform (as of December 9, 2019), as well as a short-term and long-term segments (as of January 2, 2020). At a later stage the company plans to introduce clearing agreements matching the needs of the Bulgarian players on the market.
The trade platform has already traded gas quantities, including 551,416 MWh on the GPR segment, 97,645 MWh on the short-term segment and 1,672,281 MWh on the long-term segment.
The trade platform can be used for trades with deliveries in less than a year or as much as five years ahead.
According to a business plan for 2020-24, Balkan Gas Hub intends to provide a regional natural gas trade platform that ensures competition, transparency and non-discrimination, and provides conditions that are conducive to competitive prices for consumers and traders.
The aim of the company is to gradually expand the scope of products and support trade in gas by providing conditions for trade in standardized products at minimum risk for the participants.