Auction Announcement Notice
Hungarian Gas Storage Ltd (hereinafter referred to as MFGT) on this day announces an auction for booking available storage capacities. The capacity auction is carried out by MFGT in line with Annex No. 1.: Auction Regulation.
Participating in the capacity auction shall be conditional on indicating the intent to participate before the deadline by filling in and signing the Registration Sheet and the Auction Statement annexed to the Auction Regulation, by which the participant agrees to be also bound by the rules of the Auction Regulation. A further condition is to send a copy of the certificate of incorporation not older than 30 days and a copy of the specimen signature(s) in Hungarian or English (via regular mail or e-mail) before the registration deadline to facilitate checking the corporate signature.
Registration
At the capacity auction, bids can be made by only those capacity bidders that are eligible for storage access and have submitted a registration of request in the required form to MFGT prior to the announcement of the auction.
Documents required for registration:
- Duly signed Registration Datasheet (attached).
- Duly signed Auction Statement (attached), by the signature of which the Bidder verifies its intent to participate and the acceptance of the Auction Regulation and the Natural Gas Storage Sample Contract.
- Copy of the certificate of incorporation not older than 30 days in Hungarian or English
- Copy of the specimen signature(s) of the authorized signatory (signatories) signing the bid in Hungarian or English (via regular mail or e-mail)
Deadline for submitting to MFGT the documents required for registration: 10th June 2015, 16:00. MFGT shall confirm the registration to the applicant.
During registration, in the event of late or incomplete delivery of documents, MFGT may require deficiency correction from the Bidder along with setting a deadline, defaulting on which may have the legal implication of invalidating the registration. In case of a valid registration, MFGT confirms the fact of registration to the Bidder by e-mail.
During registration, MFGT shall be obliged to treat data submitted to the auction in a confidential manner and will not disclose them to any third party.
Offered Capacities
Capacities will be offered by MFGT in bundles.
1 piece of bundle contains:
3 420 000 MJ firm working gas capacity, 25 651 MJ/day (app. 133,33 days) firm injection capacity and 48 642 MJ/nap (app. 70,31 days) firm withdrawal capacity
Number of bundles: 5000 pieces.
Bid period: the storage year 2015/2016
The contractual injection period starts on 06:00 a.m. 01. 04. 2015 and ends on 06:00 a.m. 01. 10. 2015. The contractual withdrawal period starts on 06:00 a.m. 01. 10. 2015 and ends on 06:00 a.m., 01. 04. 2016.
Starting Price: the price according to the non-universal service price formula as per the Tariff Decree.
The Bid Price does not include the volume fee or the VAT.
Auction procedure:
When auctioning the capacity bundles, MFGT shall apply the method set forth in Annex No. 1.: Auction Regulation.
Registration deadline: 10th June 2015, 16:00.
Submission of Bids: duly signed bids can be submitted via as sealed envelope that is to arrive by Thursday 11th June, 15:00 specifying the following data:
Bid Price (HUF/MJ)
Bid Quantity (number of bundles, maximum 5000 pieces)
Any Bidder is limited to submitting only one bid at one specific price.
The date of the capacity auction is Thursday 11th June, 15:00 hours, when received bids are evaluated at the MFGT’s office (1051 Budapest, Széchenyi István tér 7-8.) in the presence of a public notary pursuant to the auction regulation. Awarded bidders shall be notified by MFGT by e-mail until 17:00 hours.
Following the auction, MFGT and the awarded Bidder shall conclude the Natural Gas Storage Contract on the awarded quantities within 5 business days from the auction.
Auctioneer (MFGT) explicitly reserves the right to withdraw without explanation the open storage capacity Auction announced as Capacity Auction No. 2015/III, until the announcement of its results. In the event that the Auction is withdrawn, Auctioneer will not compensate for any damage or cost incurred by the bidders.
Should you have any further questions or need information related to the auction, please contact MFGT’s designated contact persons Róbert Abonyi and Balázs Meggyes sales experts (Phone: +36-30-533-7218, e-mail: abonyir@mfgt.hu, or +36 30 718 9343, e-mail: meggyesb@mfgt.hu).
Budapest, June 2015