Approximately half of the country's natural gas consumption is currently being sold at a regulated price, far below the international quotations, because we have the advantage of a generous domestic production (which covers 70% of the consumption). In the coming years, domestic gas will need to reach the average of prices practiced in the region, which means a 160% price increase. The increase in the transparency of transactions, through the creation of the natural gas exchanges, is very important, in this context, for consumers, who need to have the certainty that the price they pay to their supplier is fair. An exchange will not only ensure the transparency of the traded quantities and trading prices, but the indiscriminate access to natural gas as well.

The natural gas exchanges managed by the OPCOM (the operator of the energy exchange) and the Romanian Commodities Exchange (BRM), will become functional starting in August, said Niculae Havrileţ, the president of the ANRE (the regulator of the Romania energy market).

"The regulation concerning the centralized market for natural gas was published on Wednesday in the Official Gazette. The ANRE will now move to the licensing of the OPCOM and BRM and the approval of the trading regulations. The Regulatory Committee will have these items on the agenda in the coming meetings, so that in August natural gas will be tradable on the OPCOM and the BRM".

As early as last winter, the ANRE received from the OPCOM and the BRM, the working regulations for some of the gas trading platforms which the two operators submitted for approval. Market sources were saying that there is still a long way to go from having two natural gas exchanges on paper and until the actual trading begins. This year's first trading months year will only bring small volumes of natural gas on the exchanges. Our sources are also saying