Minister unveils state plan for gas reserve purchases

Czech gas reserves are currently at 40 percent full capacity and storage tanks are being filled up at a rate of 25 million cubic metres per day (twice the equivalent of summer consumption), Industry and Trade Minister Jozef Síkela said on Monday as he presented the state’s plan to stack up on gas ahead of the next winter.

This will include creating the office of “state energy buyer” (státní obchodník s energiemi), who will be able to negotiate directly with European gas suppliers. The minister hopes that this will make gas purchases cheaper and more secure.

The Ministry is also preparing a July initiative aimed at motivating businesses to save on energy consumption. Mr Síkela said that up to CZK 10 billion could be allocated for this purpose.

He also mentioned that the state wants to motivate gas traders via auctions in which the state will financially support the storage of gas in storage facilities and compensate traders for the price difference.