BERLIN, Nov 21 (Reuters) – Germany wants to provide an additional 5 billion euros ($5.1 billion) credit to the national gas market exchange center to enable forward sales of storage facilities gas, according to a Finance Ministry document seen by Reuters. .
This brings the total amount of credit for Trading Hub Europe (THE) to 20 billion euros, the document seen on Monday said.
THE is a subsidiary of the country’s gas network operators and is responsible for the gas market in Germany. Gas purchases were already being made through THE with federally guaranteed loans to fill storage facilities in Germany.
According to a note on the document from the Ministry of Economy.
According to the note, the Ministry of the Economy had ordered at the end of September that 35% of the volumes of gas stored should be sold via the futures market and 35% via the spot market this winter. Beyond this winter, 30% of volumes must remain in stock.
($1 = 0.9757 euros)
Reporting by Holger Hansen, writing by Miranda Murray; Editing by Rachel More and Emelia Sithole-Matarise
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