The operator of underground gas storages and the Ukrainian Energy Exchange (hereinafter - UEEX) conducted the first transactions for the purchase and sale of gas in UGS according to a new algorithm through the electronic platform of the Exchange. Market participants have already tested the method, concluded and successfully executed the first agreements. This has launched a new stage in the operation of the Ukrainian gas market. Now gas trading operations are fully digitalized, continue according to a significantly shorter timeframe and take place online, with a wide range of participants and less paperwork.
The service of exchange trading of gas in UGS, which is provided jointly by the Operator of gas storages of Ukraine and UEEX, now applies to cleared gas. And in the near future it will also become possible for gas stored in Ukrainian storages in the "customs warehouse" and "customs warehouse + shorthaul" mode. Now foreign traders working specifically with uncleared gas will be able to join the auctions.
"Since 2020, the Gas Storage Operator has been systematically working to expand the list of its services and create new opportunities for customers. The trading of natural gas in UGS on the electronic platform of the Ukrainian Energy Exchange is our step in this direction. Moreover, the automation of trade operations with natural gas stored in UGS is our weighty contribution to the development of the Ukrainian gas market as a whole. In this case, all stakeholders win - from the smallest traders to the participants of the international energy market", noted Sergey Pereloma, acting CEO of Ukrtransgaz JSC.
"We have implemented the first phase of our project with Ukrtransgaz JSC. We hope that this tool will be actively used by the participants, in particular for the purpose of balancing. UEEX is in a close dialogue with the market participants, there is a Section Council at the Exchange, where we hear the "voice of the market" to offer the best services for its formation and development. Thanks to all our colleagues from Ukrtransgaz JSC for their fruitful work and assistance in providing the market with effective tools. I am sure that with such highly professional work in facilitating the development of a competitive market, Ukraine will soon be able to become a very powerful gas hub in Europe," mentioned Chairman of the Exchange Committee of the Ukrainian Energy Exchange Oleksii Dubovskyi.
Ukrainian Energy Exchange invites all participants to join natural gas trading in UGS on the short-term market.