AggregateEU Updates | December
The tenders have been released - let the bidding begin!
Dear Reader,
We are delighted to announce the demand aggregated in the fourth tendering round of AggregateEU: together, buyers requested a total gas amount of 10 billion cubic meters!
Now, based on this result, different tenders were created and published on December 4th.
Sellers can now submit supply offers with their indicative prices for those locations.
This newsletter will explain how to do so and what you must consider.
How to Submit a Sale Offer in a Tender?
To submit your offer for an AggregateEU Tender, follow these steps:
- Log into your account.
- Click on "AggregateEU" and then select "Overview."
- Inside the LNG or NBP Tender tile, click on "Join."
- From the list, locate the specific tender (location, month) for which you want to submit a gas offer.
- Click on "Submit Offer
Then, provide the following details to create your offer:
- Gas Quantity: Specify the amount of gas you are offering in MWh.
- Price: Enter an indicative value in EUR/MWh.This price must be expressed as a discount (negative value) or premium (positive value) to the price of the Dutch TTF Natural Gas Futures for the month of delivery. For more details, please check the linked article.
- Valid Until: Specify the date until which your offer will remain valid.
NOTE: The earliest possible validity date is two days after the end of the offer submission phase, at midnight.
For LNG Tenders only
If you're participating in an LNG tender, you can add your Preferred Terminals, meaning the terminals at which you'd be willing to make the delivery.
Then, read the AggregateEU Terms and Conditions and accept them by checking the box. Finally, click on "Submit."
Once submitted, you will be able to view your offer within the tender tile.
You can find the step-by-step instructions linked here in our AggregateEU Hub.
Next Steps: Matchmaking & Negotiation
Matchmaking
The Offer Submission Phase ends on December 5 at 18:00 CET. Demands will then be matched to offers on a pro-rata basis irrespective of the expiration date of the indicative price.
On December 7 at 12:00 CET the results of the matching process will be published to buyers and sellers. This report includes the following details: gas amount, average price and relevant contact data of buyers and sellers.
NOTE: If you, as a buyer, have successfully gotten matching offers you might have to create reports based on these. But you only have to report those for which you actually contacted the seller or the seller contacted you to start the negotiation. More details are explained in the linked article.
In light of the matching results, participants can then negotiate and conclude contracts to purchase gas at specific locations in specific months. As usual, the negotiation phase happens outside AggregateEU.
NOTE: If you are in a situation where you have to report the negotiation or contracting status of your matches from the AggregateEU tenders, you have the possibility to select different options in the "Contract Status" field. The status "Contract Withdrawn" should only be selected in the following situations:
- wrong data was entered in a contract report that needs to be rectified
- a concluded contract is terminated or cancelled
If, following exchanges/negotiations with the seller(s), you do not conclude a contract with the seller, then please choose "Negotiation Unsuccessful".
Get the Support you need
Companies can also seek to facilitate negotiation and contract conclusion by using the services of Central Buyers or Agents on Behalf. You can learn more about these services in this article.
If you require financial support for your future transactions on AggregateEU, you may be eligible to get support from some public financial institutions. Please refer to our AggregateEU Hub to learn about available options, their service conditions and their contact details.
With our regular AggregateEU Updates, we will keep you posted about the latest developments. For further questions, don’t hesitate to get in touch with our Customer Success Agents.