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Naftogaz purchased around 400 cubic metres of gas from private Ukrainian producers

Between 26 April and late May this year, Naftogaz purchased around 400 cubic metres of gas from private Ukrainian producers on the Ukrainian Energy Exchange (UEEX), Naftogaz Group said on 30 May.

“A transparent domestic gas market is an impetus for private companies to ramp up production. Therefore Naftogaz Group participates in the stock exchange almost every day and purchases various volumes of fuel ranging from hundreds of thousands of cubic meters to millions,” said Oleksiy Chernyshov, CEO of Naftogaz.

The primary Naftogaz goal for the 2023-2024 heating season is to end reliance on gas imports and pass this winter using domestic energy resources, the company said.

“To achieve this aim, we need to form the necessary fuel reserves. The majority share of up to 13.5 billion can be provided by Ukrgasvydobuvannya. We expect to get the rest from private companies. Exports of domestically produced gas from Ukraine are prohibited in war conditions. This decision may be unpopular but it is justified. To begin with, we need to be sure that we have accumulated enough gas for our own needs,” Mr Chernyshov said.

The Naftogaz CEO underlined that if the market functions properly, the presence or absence of export options should not be a concern to private producers. “They can be sure they will sell their resources on the domestic market at competitive prices,” he said.

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