The South-East European Gas Initiative (SEEGAS) was launched on 15 December 2020 as a joint project of ten EU countries and contracting parties of the region as a response to stakeholders’ increasing interest in establishing organized gas exchanges and improving cross-border trading. The aim of the initiative is to foster closer cooperation between gas exchanges and transmission system operatorss in the region for the development of natural gas cross-border trade in an open, liquid, and competitive market that would ultimately benefit end-consumers.
Recognizing the need for dialogue and cooperation well before the first signs of the current energy crisis, the SEEGAS initiative has acquired now a greater significance, as the region’s energy security is reliant on enhanced cooperation and coordination of gas exchanges. Through the initiative, the secretariat aims to increase the security of gas supply in the region and encourage closed markets to open up and diversify their supply of sources towards a better integrated regional market.
This page presents the main milestones, reports and discussions conducted in the context of the SEEGAS initiative, together with an in-depth country analysis of each SEEGAS participant country.
SEEGAS Reports
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Report on Gas Exchange - Update
2023 SEEGAS 2.0 REPORT - Initiative update and post-crisis development analysis
The 2023 report provides a general overview on how the gas crisis derived from the war on Ukraine impacted the exchange development on the SEEGAS Region. The initial chapter illustrates how SEEGAS members collectively reacted to the recent gas crisis through the establishment of Extraordinary Crisis Response meetings. Furthermore, special sections are dedicated to the description of the Regional Clearing Initiative between SEEGAS, EBRD and PONTON, as well as to the specific task force that the Energy Community dedicated through SEEGAS concerning the fulfilment of Ukrainian storages with EU gas. The second chapter outlines gas market and exchange developments during 2022 and 2023 in the SEEGAS participating countries: three Energy Community Contracting Parties (Georgia, Moldova and Ukraine), five EU Member States (Austria, Bulgaria, Greece, Hungary, Poland and Romania), one Observer Party to the Energy Community (Turkey) and Israel.
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Report on Regional Transmission Routes
2022 SEEGAS Report on Regional Transmission Routes
The 2022 Report was framed as an ad-hoc response to the gas crisis derived from the war on Ukraine and as an Secretariat's in-house initiative to provide practical information on import and transmission capacity availability in the region and recommend solutions to barriers causing bottlenecks and preventing further regional cooperation.
Report surveyed 10 national gas transmission system operators in Bulgaria, Croatia, Greece, Hungary, Moldova, North Macedonia, Poland, Romania, Turkey, Ukraine, 10 existing or prospective LNG terminal operators in Croatia, Greece, Poland, Turkey as well as the operators of the recently commissioned Trans-Anatolian Pipeline (TANAP) and Trans-Adriatic Pipeline, which together make up the Southern Gas Corridor. Respondents include operators in EU Member States and Energy Community Contracting Parties which have also expressed interest in joining the SEEGAS project.
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Report on Gas Exchange
2021 SEEGAS Report on Gas Exchange
The report begins by providing an overview of the SEEGAS Initiative and summarizing its achievements to date. The second chapter outlines gas market and exchange developments in the SEEGAS participating countries, three Energy Community Contracting Parties (Georgia, Moldova and Ukraine), five EU Member States (Austria, Bulgaria, Greece, Hungary, Poland and Romania) and one Observer to the Energy Community (Turkey). All countries which are covered by this report are either in the process of establishing exchange traded gas markets or have such markets already in operation.
SEEGAS achievements and activities
New Memorandum of Understandings for enhanced regional cooperation
In a move towards strengthening regional energy markets, Central-Eastern European Energy Exchanges joined hands through the signing of MoU. The agreements signed between
- Ukrainian Energy Exchange (UEEX) and Romanian Commodities Exchange (BRM);
- Ukrainian Energy Exchange (UEEX), Towarowa Giełda Energii S.A. (TGE), and Izba Rozliczeniowa Giełd Towarowych S.A. (IRGiT),
aim to foster cooperation in various aspects of the energy trading landscape. These MoUs streamline interconnectivity and harmonize trading and clearing systems across national borders, ultimately facilitating seamless cross-border operations.
Read moreWelcoming East Med Energy Exchange (EMEX)
The SEEGAS forum welcomed the CEO and founder of the Tel Aviv-based East Med Energy Exchange (EMEX), Doron Liban, who presented the exchange's gas physical spot market, which opened in November 2022.
Collaboration with EBRD: Towards the integration of regional clearing operations
The Energy Community and SEEGAS Exchanges started its collaboration with the European Bank for Reconstruction and Development (EBRD) and a designated international consultant to produce a study for the integration of regional clearing operations.
Release of the 2nd SEEGAS Report on Regional Transmission Routes
Prepared in consultation with the region’s gas stakeholders, and taking into account the urgency of ensuring the energy security of consumers in preparation for winter, the Energy Community Secretariat concludes on its SEEGAS Regional Transmission Routes Report that the region remains vulnerable and poorly connected due to numerous regulatory bottlenecks impeding the establishment of a competitive and resilient gas market despite the existence of abundant but underutilized physical transmission and import capacities. The report also lays out general and country-specific recommendations to remove these bottlenecks.
Read moreRelease of the first SEEGAS Report on Gas Exchange
The report with the title Introduction to the SEEGAS Initiative and Gas Exchange Development in the Region begins by providing an overview of the SEEGAS Initiative and summarizing its achievements to date. The second chapter outlines gas market and exchange developments in the SEEGAS participating countries, three Energy Community Contracting Parties, five EU Member States and one Observer to the Energy Community. All countries which are covered by this report are either in the process of establishing exchange traded gas markets or have such markets already in operation.
Read moreMemorandum of Understanding expansion with new signatories
Key regional stakeholders joined SEEGAS on the occasion of the first Steering Committee meeting in Vienna. The scope of SEEGAS MoU was widened by the signatures of four further gas transmission system operators:
- Transgaz of Romania;
- Desfa of Greece;
- the Balkan Gas Hub of Bulgaria;
- the Hellenic Energy Exchange.
The first Memorandum of Understanding
A Memorandum of Understanding (MoU) about trans-regional cooperation on the development of an integrated South-Eastern and Eastern European gas market was signed by
- the Energy Community Secretariat;
- energy exchanges and trading service providers BRM, UEEX, TGE, CEEGEX and ECG;
- transmission system operators Moldovatransgaz, GTSOU, FGSZ and GAZ-SYSTEM.
The signatories aim to cooperate on the development of cross-border natural gas trading, e.g. on exchange platforms, and introduce transparent and competitive interregional market-based pricing mechanisms and efficient cross-border gas transmission and interoperability.
Read morePublic Consultation
From 12 May 2021 to 30 June 2021, the EU Agency for the Cooperation of Energy Regulators (ACER) and the Energy Community Secretariat (ECS) carried out a joint public consultation regarding gas capacity availability and use on a number of interconnection points (IPs). The IPs concerned are located on the borders of the EU Member States and the Energy Community Contracting Parties and between the Energy Community Contracting Parties. By way of this consultation, ACER and the ECS aimed at gaining a firmer understanding of stakeholders’ views on best practices in pursuit of enhancing connectivity, optimal use of existing capacity, market integration, and competition
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