Gazprom leaves SPIMEX because of tax risks

Gas trading on stock exchange, started just three months ago with great difficulty, has already faced with a serious problem. Gazprom refused to sell its gas on the stock exchange, as under the current scheme, it faces additional taxes. According to the Kommersant’s information, Gazprom tried to bargain for special preferential terms, but the stock exchange and regulators didn’t agree to grant them.

Yesterday, Gazprom didn’t participate in regular gas trading on the stock exchange SPIMEX for February delivery for the first time, the Interfax reported and sources of the Kommersant on the market confirmed. As a result, the trading volume fell almost 2.5 times as compared with December (auctions are held once a month) to 134 million cubic meters, as only independent producers sold gas. SPIMEX and Gazprom confirmed that Gazprom didn’t take part in the tender, refused to comment on further.