During 9 months of 2019, 240 million cubic meters of natural gas were sold at the Ukrainian Energy Exchange, which is 82% more than in the same period last year. In total, 148 trading sessions were held this year, 22 of which were held in September.

The largest trade activity was observed in the III quarter. This is due to the fact that the biggest player Naftogaz of Ukraine, via its subsidiary Naftohaz Trading entered the UEEX and sold about 100 mcm of natural gas at exchange trading.

The number of participants increased to 280 companies, which is 113 more than a year ago. Sellers are mainly Ukrainian mining companies. Buyers at trades are large state-owned companies, gas suppliers to consumers and traders.

Prices have been falling for a year. For example, the weighted average price of the September resource was 45% lower than the January 2019 resource. This is a consequence of the decline in prices at European hubs after a warm winter with filled storage facilities, the growth of LNG supplies to Europe etc. It should be noted that the UEEX quotations are closely correlated with the quotations on Western European hubs with an insignificant time lag.

"In 2019, we saw the development of natural gas trade and dynamic growth in key indicators. We cannot but note Naftogaz Trading’s contribution to the creation of a competitive natural gas market, as the participation of large gas companies in the process of forming the exchange market is a standard European practice to increase the activity of exchange trading. A significant achievement is the recognition of UEEX quotations as a benchmark for setting tariffs for the population. Thus, average weighted prices on UEEX for 3 months were the lowest among other elements of the formula approved by the Resolution №485 of the Cabinet of Ministers of Ukraine. In general, sales volumes for 3 quarters have already exceeded the same indicator for the whole year of 2018. In 2019, we expect a record 300 mcm of sales", - commented CEO of the Ukrainian Energy Exchange Oleksandr Kovalenko.