DONG Energy today completed the auction of 400 mill. m3 of natural gas at the annual Gas Release auction - corresponding to 10% of the Danish gas market. The auction was a success as all available volumes of natural gas were auctioned.
The Gas Release auction is part of DONG Energy's Gas Release Programme which is part of the company's commitment to the European Commission following the approval of the merger of the Danish energy companies DONG, Energi E2, Elsam, Nesa, Frederiksberg Forsyning and Københavns Energi (electricity division).
The auction was performed using the "Two-Way Gas Release" concept developed by DONG Energy, whereby DONG Energy delivers natural gas in Denmark and receives corresponding gas volumes at the gas markets in the UK, Belgium, The Netherlands and Germany.
Mr. Jan Ingwersen, Vice President of DONG Energy, states: "We are very pleased that the second gas release auction has proceeded successfully. It shows that it is an attractive concept for gas auctions contributing to the development towards a north-west European regional gas market."
Nine bidders participated in the auction in which 10 lots of 40 mill. m3 of natural gas were being offered. The web-based auction was held by a third party administrator.
The auction ran over three rounds, and the result was that the 10 lots delivered in Denmark will be exchanged against five lots in the Netherlands and five lots in Germany. For further details, please visit www.dongenergy.com/gasrelease.
The next auction in the DONG Energy Gas Release Programme is scheduled to take place in spring 2008.
For further information, please contact:
+45 4480 6910