UEEX is represented in the discussion on the procurement of domestically produced natural gas by Naftogaz

Today, May 4, in the frame of “Energy freedom by Energy club” a discussion on the topic “Procurement of domestically produced natural gas by Naftogaz was hosted. Is there a chance for competitive market to return?”. The discussion was attended by representatives of many market participants, representatives of specialized organizations, and independent experts. Discussion was practical, because the Companies who are actually representing wholesale natural gas market were attended.

Inna Shcherbyna, Deputy Chairman of the UEEX Exchange Committee, mentioned in her report, that in wartime the market is complicated to analyze and understand, but there were participants who joined the organized Exchange market. “Naftogaz is back on the market today. There is a lot of discussion around this process, a lot of questions in the media about whether we can call the market a procurement market for one huge player and whether the market then actually dictates the price. I will tell you – for sure we can definitely state that the market is restored. First, look the way of Naftogaz entrance to the market motivated the other players to participates in the trades. Maybe someone just declares the price, some managed to sell, and the other one to buy. And the main thing is that during this period of time we have seen supply and demand start to move towards price convergence," - said Inna Shcherbyna”

Oleksii Dubovskyi, Chairman of the UEEX Exchange Committee summarized the recent intensification of competition in trading and the importance of developing this area, including the further implementation of standardized contracts, which will allow participants to work under uniform rules.

In general, discussion participants mentioned on importance of transparent and competitive trades, publicity of pricing information, the need of civilized gas market with conditions understandable for all.

The event ended on an optimistic note, with an understanding of the existing problems and measures needed to revitalize the market in the near future.