Energy Bourse Transactions Jump 212%

Energy Bourse Transactions Jump 212%Energy Bourse Transactions Jump 212%

The energy bourse registered 212 percent growth in the current Iranian calendar year (ends March 20) compared to the same period last year, ISNA reported.

Transactions carried out at the bourse this year were valued at $479.4 million (16,000 billion rials), indicating a 212-percent increase.  Value of spot market transactions stood at $404.5 million (13,050 billion rials) or 215 percent growth. Transactions at the spot market totaled 798,000 tons in volume, which was 207 percent higher than last year's.

Electricity transactions also saw a 200 percent increase, the total value of which stood at $88.7 million (2,960 billion rials). A total of 7.150 million megawatts of electricity was traded at the energy bourse over the past year, showing a 150-percent increase compared to last year.

The oil ministry plans to supply sizeable volumes of oil and petroleum products at the energy bourse as of the next Iranian calendar year. Crude will be offered at free on board (FOB) price, and buyers, including international firms, will have to pay in the Iranian currency, as is the oil ministry's policy regarding the sale of oil-based commodities for trading at energy bourse.

With the oil ministry working towards liquefied natural gas (LNG) pricing and transparency, LNG is also expected to be supplied at the energy bourse in the coming year.