On October 11-12, 2017, in Kyiv with the support of European Federation of Energy Traders (EFET), the Committee on Fuel and Energy Complex, Nuclear Policy and Nuclear Safety of the Verkhovna Rada and the Ministry of Energy and Coal Industry of Ukraine Third Ukrainian Gas Forum "The Kind Of Market We Have Created" . Among the sponsors of the event is Ukrainian Energy Exchange.
This year the forum traditionally brought together a wide circle of representatives of Ukrainian and foreign gas producers, traders, international experts, EU regulatory bodies, European and American business circles, the public, as well as experts from the European Commission and the Energy Community. All present were working to resolve issues of promoting the Ukrainian gas market on the path of European integration and reforms, everyone had the opportunity to express their position and convey information in the form of speeches and discussions.
Head of the Exchange Committee of the Ukrainian Energy Exchange Oleksii Dubovskyi made a presentation of gas exchange trade in Ukraine in the context of the topic: Price of gas is the key to a full-fledged market. At the same time, Oleksii Dubovskyi spoke about the process of liberalization of natural gas market in Europe, noted its main trends and stages, and highlighted key success factors in launching and developing a short-term natural gas market. In particular, Mr. Dubovskyi noted that now there are 16 gas hubs in the EU, while only nine of them have information on more or less significant volumes of trading. The rest of the hubs still exist only nominally. At these points, natural gas and derivatives are traded on 11 European exchanges.
He also talked about the achievements of the Ukrainian Energy Exchange in establishing and developing exchange natural gas market, in particular, the gradual expansion of the circle of participants, increase in trading volumes, development of new instruments for trade and the future goals that an exchange puts before itself. Also in the presentation, an analysis was carried out of the procurement of natural gas on the exchange and through the ProZorro public procurement system in terms of the prices developing at these sites, demonstrated greater efficiency in favour of exchange mechanisms.
Participants of the Third Gas Forum unanimously agreed that the resource potential of Ukraine is extremely large, and international practices are used very little. Therefore, the participants called on the Government to take more decisive actions and systemic decisions, which will be based on the best world experience.