AggregateEU launched to facilitate EU joint gas purchasing

Main Message

AggregateEU is a new EU mechanism to aggregate demand and enable joint gas purchasing at European level, established under the Solidarity Regulation and managed by Prisma European Capacity Platform GmbH (PRISMA). It will run tenders to procure pipeline gas and LNG from global suppliers, excluding Russian supplies, and create a transparent marketplace to bring more companies into the wholesale and LNG markets.

Why It Matters

Companies established in the EU and Energy Community contracting parties can participate as buyers or sellers, and both EU and non-EU suppliers may take part except for Russian companies. AggregateEU aims to help the EU jointly purchase volumes equivalent to at least 15% of Member States' storage filling obligations and to support timely refilling ahead of winter, noting Member States must reach 90% storage by 1 November 2023 and storage stood at 57% on 24 April 2023.

What Follows

The first demand window is open until 2 May, aggregated volumes will be tendered in mid-May and tenders will recur roughly every two months through 2023, after which matched companies and suppliers will negotiate contracts outside the mechanism while the Commission will not sign or own gas contracts.