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.: the MFGT Storage Capacity 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 MFGT Storage Capacity Auction Regulation, by which the participant agrees to be also bound by the rules of the auction regulation.
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 Contract.
Deadline for submitting to MFGT the documents required for registration: 20th May 2014, 12:00. MFGT shall confirm the registration to the applicant.
In the event that the documents are received late, MFGT considers the registration invalid. 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.
Capacities will be offered by MFGT in bundles.
1 piece of bundle contains:
¾ 171 million MJ working gas capacity, 70.31 day withdrawal capacity and 133.33 day injection capacity
Number of bundles: 20 pieces.
The period of booking a bundle: the storage year 2014/2015
Starting Price: the price according to the non-universal service price formula as per the Tariff Decree.
The price does not include the volume fee or the VAT. The System User shall subject itself to the legally binding nature of the 1/2013 MEKH decree (Tariff Decree), which if, it readjusts the storage capacity fees of MFGT, the fees put forward by the System User and accepted as the winning contending price by MFGT are to be corrected on the basis of +/-% differences set by the Tariff Decree.
When auctioning the capacity bundles, MFGT shall apply the method set forth in Annex No. 1.: the Storage Capacity Auction Regulation.
Registration deadline: 20th May 2014, 12:00
Submission of Bids: duly signed bids can be submitted via as sealed envelope that is to arrive by Wednesday 21th May, 12:00 specifying the following data:
Number of bundles (maximum 20)
Any Bidder is limited to submitting bids at one specific price. Please attach a copy of the register to the duly signed bid.
The date of the capacity auction is Wednesday 21th May 2014, 12:00 hours, when received bids are evaluated in the presence of a public notary pursuant to the auction regulation. Awarded bidders shall be notified by MFGT by e-mail until 13:00 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. 2014/II, 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 person Katalin Romics sales and marketing expert (Phone: +36-30-3099173, e-mail: firstname.lastname@example.org).
Budapest, May 2014