MOSCOW, June 24 (RIA Novosti) - Russian Prime Minister Dmitry Medvedev signed a decree legislating the sales of natural gas both through commodity exchanges and electronic trading systems, according to the respective document published on the government's website.
"In order to develop the market principles of gas pricing and launch the organized trade in gas in Russia, the signed decree brings normative legal acts of the Government into conformity with the federal law 'On the organized trading.' The words 'commodity exchanges' are replaced with the words 'organized trading'," the document says, explaining the initiative as a move to foster spot trade of natural gas.
The decree dated June 19 amends the previous document from April 2012, which outlined the framework for gas trade through commodity exchanges, but failed to produce the intended shift in gas trade.
