Poland's PGNiG to offer new price policy for gas products
WARSAW Oct 8 (Reuters) - Poland's gas monopoly PGNiG will offer a new market pricing policy for its products offered on Warsaw's gas exchange to attract new players to the bourse, PGNiG said.
Poland, which imports the bulk of its gas supplies from Russia, launched a gas exchange at the end of 2012 to pare PGNiG's dominant position in the 14 billion cubic metres (bcm) market to meet European Union liberalisation requirements.
"The purpose of the new pricing policy is to offer natural gas to other market participants, at prices equal to those found on other deregulated wholesale, exchange and OTC markets closest to the Polish market," PGNiG said in a statement.
Earlier this year Poland required companies to sell 30 percent of their gas on the exchange in 2013 with the target increasing to 40 percent in 2014 and 55 percent in 2015 in order to boost trade on the platform created on the POLPX exchange.
In the first half of 2013, the total volume of all transactions in the gas market reached 464,648 MWh, of which the spot market accounted for 179,071 MWh and the forward market 285,577 MWh. (Reporting by Agnieszka Barteczko; editing by Michael Kahn and Jason Neely)
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