International gas suppliers have offered almost 100 billion cubic meters of gas in the context of a new European group purchase in the medium term. The European Commission has reported this. The supply is almost three times greater than the demand.
In response to skyrocketing energy prices following the Russian invasion of Ukraine, the Commission has been organizing joint purchases for European companies since last year. They can indicate exactly how much gas they need on the AggregateEU platform. These requests are then bundled and presented on international markets.
The Commission launched a longer-term tender for the first time, allowing companies to submit their gas needs from April this year to October 2029. Last week it emerged that 19 companies had together submitted applications for 34 billion cubic meters of gas. The supply now appears to be almost three times larger: 97.4 billion cubic meters.
“This is a remarkable result,” said Commission Vice-President Maros Sefcovic. “It is further proof that AggregateEU has become a dynamic marketplace for buyers and reliable international gas suppliers, supporting the competitiveness of our industry and keeping prices stable for our consumers.”
Last year, the Commission had organized a total of four tender rounds for shorter-term gas purchases. These accounted for a total demand of more than 54 billion cubic meters and a supply of 61 billion cubic meters. After selecting the most advantageous offers, AggregateEU was able to bring together more than 42 billion cubic meters of supply and demand.
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