On 21 July 2021, a Memorandum of Understanding about trans-regional cooperation on the development of an integrated South-Eastern and Eastern European gas (SEEGAS) market was signed by the Energy Community Secretariat, energy exchanges and trading service providers BRM, UEEX, TGE, CEEGEX and ECG and transmission system operators Moldovatransgaz, GTSOU, FGSZ and GAZ-SYSTEM. The signatories aim to cooperate on the development of cross-border natural gas trading, e.g. on exchange platforms, and introduce transparent and competitive interregional market-based pricing mechanisms and efficient cross-border gas transmission and interoperability.
The Memorandum specifically aims to create prerequisites for the functioning of a competitive liquid SEEGAS market and to ensure unhindered access to the respective natural gas markets for all market participants and service providers on a non-discriminatory basis and equal terms in accordance with the EU acquis. It also aims to facilitate cooperation on the implementation of an effective commodity clearing system for natural gas transactions that is in line with best European practices.
“Since its establishment, the Energy Community has supported the integration of its Contracting Parties with the EU energy markets, which for Ukraine and Moldova is now gradually becoming a reality. The signature of the SEEGAS Memorandum of Understanding is a joint effort of core movers in the region towards further integration of exchange traded markets for natural gas,” said the Director of the Energy Community Secretariat, Janez Kopač.
“I very much appreciate this initiative and I am sure, it will contribute to the future development of gas trading in the region,” also said Gottfried Steiner, CEO of the Austrian Central European Gas Hub (CEGH) and signing representative for EEX CEGH Gas Exchange Service GmbH (ECG).
“I have always believed that the countries in the region need to know each other better and to cooperate to solve their problems. This is exactly what the SEEGAS project aims to do, which is why BRM has joined the first proposal with confidence. We are positive that in a short time, solutions will be developed to facilitate cross-border gas flows and to create a functional regional market,” added Gabriel Purice, CEO of the Romanian energy exchange BRM.
The signing of the Memorandum will be followed by the first SEEGAS Joint-Steering Committee Meeting between the partners, which will take place at least once every three months. The Memorandum is open to any exchange or transmission system operator active in the SEEGAS region wishing to join the initiative at a later stage.
