At the auction held on May 22 on the Ukrainian Energy Exchange, 8 companies formed 15 starting positions. As a result of trading, natural gas prices reached their minimum - SE "Ukravtogaz" acquired 2.9 cubic meters of resource of June at a price of 1860 UAH / thousand cubic meters (including VAT).
Also in the course of trading LLC Gas Supply Company Naftogaz Trading sold 10 million cubic meters of May resource with the price of 2403 UAH / thousand cubic meters (including VAT) and United Energy Ltd. acquired 1 million cubic meters of May resource at the price of 2,400 UAH / thousand cubic meters (including VAT). Thus, the exchange quotation of May resource as of Friday, May 22, amounted to 2403 UAH per thousand cubic meters, and the resource of June - 1860 UAH per thousand cubic meters (including VAT). Accordingly, now the UEEX (prepayment) quotation level is more than 50% lower than in January 2020.
"Today we are witnessing a significant reduction in the price of resources in May and June, which is happening in an environment of saturation of the natural gas market. The activity of the participants last week was high, the sales volume increased significantly compared to the previous week. Such activity of participants undoubtedly revives competition at the auction, and allows establishing the most relevant prices. " - Oleksandr Kovalenko, CEO of the Ukrainian Energy Exchange commented the trading results.