Gas Supply Company Naftogaz Trading LLC, that is part of the Naftogaz companies group, plans to start natural gas purchase through the electronic platform Ukrainian Energy Exchange (UEEX) on the terms, when the negotiated purchase price will be determined based on the results of trading, NAK Naftogaz of Ukraine informs.
According to successful trading sessions, Naftogaz Trading sold 123 mcm of natural gas through UEEX last year. From now on, by focusing on not only the sale but also the purchase of natural gas on the exchange, Naftogaz Trading will confirm its status as a major market maker.
Now it is planned to purchase natural gas on delivery terms during the month following the auction. The planned minimum daily purchase volume will be up to 10 mcm, lot size - 1 mcm. Upon condition of successful tendering and interest on the market participants, the company plans to expand the purchase volumes and the range of products to be purchased.
"We managed to attract the largest state-owned company to the auction last year. Now the expansion of cooperation with it will allow to attract more participants to the auction (namely, companies-producers, traders and importers), which should result in an increase in trading volumes and representativeness of UEEX exchange quotations as an indicator of the market price of natural gas in Ukraine" - commented Oleksandr Kovalenko, UEEX CEO.In the near future, the company plans to initiate trading sessions to purchase the resource, so keep an eye on UEEX news to get a chance to sell natural gas in Naftonaz Trading. We would like to remind you that in order to participate in the trading sessions, the interested parties need to pass the KYC procedure, as well as obtain accreditation on the exchange.