Ukraine features among Europe's top 20 leading gas hubs according a new European Gas Hubs Benchmarking Study issued by the European Federation of Energy Traders (EFET).
This is the first time the EFET has included Ukraine in its Annual Review, which ranks the country in eighteenth position. With 3.5 points in the Federation’s rating, Ukraine is ranked behind liquid hubs like NBP, TTF and NCG, but ahead of both Bulgaria and Romania, despite the fact that these two countries began gas market liberalization much earlier than Ukraine.
In order to further improve its position in the EFET rating, Ukraine should set tariffs at the internal entry/exit points of its GTS, introduce daily balancing with imbalance settlement procedures, and start using short-term standard products on the trading platform within the framework of daily balancing.
The recent approval of draft amendments to the GTS Code developed by Ukrtransgaz and submitted to the NEURC (Ukraine’s energy regulator) should help the Ukrainian hub improve its position and progress in the next EFET Review.
Corporate Communications Department
NJSC Naftogaz of Ukraine