According to the results of the trading sessions in February, 121.34 million cubic meters of natural gas were sold at the Ukrainian Energy Exchange, which is a record volume for February compared to other years.
Prices at European hubs were falling in February, similarly to the end of the month gas prices at UEEX were falling.
The level of UEEX exchange quotations started from UAH 4308 for the resource of February, UAH 4100 for the resource in UGS. It should be noted that natural gas price has crossed the border of 4000 UAH. "The beginning of 2020 was quite difficult for the Ukrainian gas market. Warm winter, filled storage facilities and competition with American liquefied gas in Europe continues to pull the price down. The level of UAH 4000 today, especially taking into account the dynamics of oil quotations, is not yet the end point. For example, in February 2020 UEEX has sold 9 times more natural gas than in February 2019, this indicates an increase in liquidity on the stock exchange, "- UEEX CEO Oleksandr Kovalenko mentioned.
Market experts predict further price reductions, as Gazprom’s contracts, under which the company supplies natural gas to Europe, remain a link to oil quotations.
UEEX quotes remain an indicator of market gas prices in Ukraine.