DONG Energy today completed its third successful auction of 400 mill. m3 of natural gas – equivalent to 10% of the Danish gas market – at the annual Gas Release Auction. As in the two previous auctions, all of the natural gas offered was sold.
The auction is part of DONG Energy’s commitment to the European Commission following the approval of the merger of the six Danish energy companies, which in 2006 formed DONG Energy.
The auction is based on DONG Energy’s “Two-Way Gas Release”-concept, in which DONG Energy delivers natural gas to the company’s competitors in Denmark and, in return, receives redelivery of corresponding gas volumes in the UK, Belgium, The Netherlands or Germany.
"We are very pleased that our gas release auctions continue to be successful. We increased the number of delivery points to a total of five reflecting the increased cross border gas trade. Our gas release auctions continue to support the development of the North-West European gas market", Mr. Jan Ingwersen, Vice President at Energy Markets in DONG Energy, states.
Nine bidders were qualified for the auction, in which 10 lots of 40 mill. m3 of natural gas were offered. The web-based auction was conducted by an independent third party administrator.
The auction ran over seven rounds, and the result was that the 10 lots, which are to be delivered by DONG Energy in Denmark, will be exchanged for five lots in the UK and five lots in Germany. For further details, please visit www.dongenergy.com/gasrelease.
The next auction in the DONG Energy’s Gas Release Programme will take place in spring 2009.
For further information, please contact
Media Relations
Louise Münter
+45 6155 8771
All sold out again at the DONG Energy Gas Release Auction