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Q&As on REMIT – Question III.3.41.

Is a market participant obliged to report transactions for the supply of natural gas with delivery point at offshore platforms, located on a continental shelf in the EU, to the Agency? The transactions in question are between gas producers (sellers) and shippers (buyers) who resell the gas in the wholesale market or to final customers.


Answer:

Pursuant to Article 2(4)(a) of REMIT, ‘wholesale energy products’ means the following contracts and derivatives, irrespective of where and how they are traded: (a) contracts for the supply of electricity or natural gas where delivery is in the Union […].

Therefore, contracts for the supply of natural gas where delivery is at the offshore platforms situated on a continental shelf in the EU are contracts reportable under Article 3(1)(a) of Commission Implementing Regulation (EU) No 1348/2014.

Last update: 31/08/2016   RSS_Icon Subscribe to this Page’s RSS