Oleksiy Chernyshov: Transparent domestic gas market is an impetus for private companies to ramp up production

During the period from 26 April to the end of May 2023, National Joint Stock Company “Naftogaz of Ukraine” purchased approximately 400 cubic meters of gas from private Ukrainian producers on the Ukrainian Energy Exchange (UEEX), Naftogaz Group CEO Oleksiy Chernyshov has confirmed.

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

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. 

To achieve this aim, we need to form the necessary fuel reserves. The majority share of up to 13.5 billion can to be provided by JSC 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,” explained Chernyshov.

The Naftogaz Group CEO underlined that if the market functions properly, the presence or absence of export options should be of no concern to private producers. “They can be sure they will sell their resources on the domestic market at competitive prices,” he commented.

More information for market participants planning to participate in the stock exchange to purchase natural gas is available via this link.

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