Ukrainian Energy Exchange launches information video for LPG market participants
On Monday, February 19, 2018, Commodity Exchange "Ukrainian Energy Exchange" launched an information video, the purpose of which is to deliver liquefied gas market participants, first of all, to small regional networks with the number of gas stations from one station, about the possibility without much effort and without leaving their office to purchase liquefied gas directly from the manufacturer at a fair market price, in batches of 20 tons.
At the end of November 2017, the Resolution of the Cabinet of Ministers of Ukraine № 882 of October 4, 2017 "On Amendments to the Resolution of the Cabinet of Ministers of Ukraine № 570 of October 16, 2014" came into force. This document changed the rules for the sale of liquefied gas produced by state-owned company Ukrgasvydobuvannya, replacing voice auctions with electronic auctions.
"This week we are holding the tenth electronic auction for the sale of liquefied gas produced by Ukrgasvydobuvannya, now auctions are held every Wednesday, and not twice a month, as it was in the era of a "hammer" bidding, which allows the state company to respond in a timely manner on price fluctuations in the sale of the resource, and buyers - to plan their purchases more effectively. If it was, we completely excluded the possibility of collusion of bidders, thanks to the electronic form of auctions. In the electronic system trading are held anonymously. Members do not see each other, they do not know how many of them are present at the auction, do not know who made the bet or someone who put a better price, or who have made a counter-offer. As a result - market price. Today, we witnessed the actual reform of the energy market in the segment of liquefied gas, which was made possible by the joint efforts of the Cabinet of Ministers chaired by Volodymyr Groysman, management of Ukrgasvydobuvannya in the person of Oleg Prokhorenko and Serhii Fedorenko, Naftogaz of Ukraine, the Ministry of Energy and Coal Industry, The Auction Committee and the staff of the Ukrainian Energy Exchange. Today we launched an information video that carries a message that anyone, even the smallest participant of the Ukrainian liquefied gas market, easily and, most importantly, on absolutely equal terms with the majors of this market, without leaving ones office, will be able to buy on transparent, market conditions the resource in volume from one gas carrier and on the same equal terms to ship purchased product, to be always informed about trades and also to use a lot of services provided by the Exchange," - said CEO of the Ukrainian Energy Oleksandr Kovalenko.