As agreed, Naftogaz has fulfilled all commitments made in April 2023 during our previous meeting by restarting the Ukrainian Energy Exchange. We have effectively restarted the domestic gas market. This has ensured absolute parity and transparency for all market participants," Chernyshov told the meeting. "As a result, on the eve of the heating season, NAK purchased more than 700 million cubic meters of gas on the exchange for over UAH 9.2 billion. This allowed private extraction companies to maintain liquidity and to gradually increase their own production levels."
Taras Burdeyny, the General Director of ESCO PIVNICH Group, confirmed the effectiveness of the steps taken by Naftogaz and the impact this has had on domestic gas production. "The resulting liquidity is used to maintain and increase production," he noted. "We hope to continue selling and working like this in future."
Artem Petrenko, Executive Director of the Association of Gas Production Companies of Ukraine, predicted that next year private companies would experience increased gas production.
Naftogaz CEO Chernyshov also noted that Ukraine has recently been able to operate a number of new gas wells, making it possible to increase daily gas production by 8% to 36.6 million cubic meters.
Thanks partly to gas volumes deposited in Ukraine's storage facilities by private producers, the National Energy Agency will soon exceed the government's gas storage target for the coming heating season.
Meeting participants noted that the accumulation of gas in underground storage facilities is particularly important on the eve of the coming the heating season as gas consumption at thermal power plants and thermal power plants is up by 200%.
DTEK General Director Maksym Timchenko added: "Private business expected trustworthy and constructive relations with Naftogaz. This is currently the case. That's why we're moving forward."
This mutual trust has made it possible to achieve significant gains.
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