MOSCOW, October 26 (RIA Novosti) - Russia's industry and energy minister has authorized Mezhregiongaz, a subsidiary of Russian energy giant Gazprom [RTS: GAZP] that manages domestic sales, to organize experimental electronic trade in natural gas.
Russia's government approved a pilot project in September to sell up to 5 billion cubic meters of natural gas through an electronic trading floor at unregulated prices in 2006-07.
"Mezhregiongaz has been chosen to organize an experimental electronic bourse to sell Gazprom's natural gas to its affiliates and independent organizations from November 2006," the Ministry of Industry and Energy said.
The document, signed by Viktor Khristenko, approves the working group to monitor deals. The ministry's department of structural and tariff policy in natural monopolies has been placed in charge of organizing control of the experiment. It will analyze trade data and make proposals on further development of the gas market in Russia.
