The South-East European Gas Initiative

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 organised gas exchanges and improving cross-border trading. The aim of the initiative is to foster closer cooperation between gas exchanges and transmission system operators 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.

Recognising 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.

MILESTONES

Sep 2023

New round of MoU

To strengthen regional energy markets, Central-Eastern European energy exchanges signed MoUs to enhance cooperation. Agreements between the Ukrainian Energy Exchange (UEEX) and Romanian Commodities Exchange (BRM), as well as among UEEX, Towarowa Giełda Energii (TGE), and IRGiT, aim to improve cross-border interconnectivity and harmonize trading and clearing systems.

Apr 2023

Welcoming 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.

Apr 2023

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.

Sep 2021

MoU expansion

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.

Jul 2021

The first MoU

A MoU on developing an integrated South-Eastern and Eastern European gas market was signed by the Energy Community Secretariat, energy exchanges (BRM, UEEX, TGE, CEEGEX, ECG), and TSOs (Moldovatransgaz, GTSOU, FGSZ, GAZ-SYSTEM). The signatories aim to boost cross-border gas trading, promote market-based pricing, and improve transmission and interoperability.

May 2021

Public Consultation

From 12 May to 30 June 2021, ACER and the Energy Community Secretariat held a joint public consultation on gas capacity availability and use at interconnection points between EU Member States and Energy Community Contracting Parties. The aim was to gather stakeholder views on improving connectivity, capacity use, market integration, and competition.

SEEGAS Reports

Report on Gas Exchange - Update

2023 SEEGAS 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.

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.

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.