Fluxys LNG - Regasification Slot available on sale for 8 July 2022
Fluxys LNG is offering a standard Slot to unload, store and regas LNG in the Zeebrugge LNG Terminal with Slot Start Date of 8 July 2022.
How will this Slot be offered?
This Slot will be offered in an Auction starting on 10 June 2022 at 10.00 AM Belgian time. This auctions will take place via a dedicated Auction Website.
This Slot will be allocated via the Ascending Clock Algorithm:
- The starting price is the regulated tariff of 600 349.11 €. The Major Price Step is 1 000 000 €, the Minor Price Step is 200 000 €
- The duration of 1 Round is 3 minutes and between 2 Rounds there is a duration of 1 minute
- Allocation mechanism:
- In case Demand is lower than the Offer in the first round, the Auction stops without the Slot being allocated
- In case Demand equals the Offer for a Round:
- The Cleared Price is the Round Price of that Round
- Each Participant is allocated its Bid Quantity of that Round
- In case Demand is higher than the Offer for a Round:
- There is no Allocation
- The auction goes to another round and a Major Price Step is added
- In case Demand is lower than the Offer after the first Round:
- There is no Allocation
- A Minor Price Step is added to the Price of the previous Round
- Such Minor Price Step is added in next Rounds until Demand equals Offer
- If during the Minor Price Steps the Demand is lower than the Offer
- Terminal Operator will contact Participants via email having entered a Bid Quantity higher than zero during the previous Round, and ask Participants for a best and final offer on price, to be submitted via following form to firstname.lastname@example.org.
- This best and final offer has to be submitted by Participant within 30 minutes after Terminal Operator has requested this best and final offer on price via electronic mail.
- The Slot will be allocated to the Participant that submits the highest best and final offer on price. In case the price of the Bids were to be the same, Terminal Operator will allocate the Slot to the Bid that was received first.
In order to take part in these auctions, you must provide us with the following documents at the latest by 8 June 2022 noon (12.00 PM) Belgian time
- Duly signed Terms & Conditions ("T&C LNG Auctions")
- Power of Attorney (see schedule 1 in Terms & Conditions, this includes evidence that the person signing the document is authorized to represent the company)
- Proof that the signatories of the Power of Attorney have the power to act on behalf of the Participant
For the avoidance of doubt, if you have already signed the Terms & Conditions for the Auction Window offering Regasification Slots in June 2022, you must also return a signed copy of these new T&C LNG Auctions.
Fluxys LNG will confirm at the latest by 9 June 2022 noon (12:00 PM) Belgian time whether Participant to the Terms & Conditions is admitted. Fluxys LNG will send your login for the Auction Website after we received your successful registration to the auction. For the avoidance of doubt, if you have already participated in the Auction Window offering Regasification Slots in June 2022, your login and password to the Auction Website remain valid and unchanged.
Feel free to contact your Key Account Manager or send your questions to email@example.com.
Fluxys LNG organised a demo session on the use of the Auction Website on 5 May 2022.