2023-05-31T10:16:00+03:00 Politics 2024-09-15T05:27:29+03:00

Ukrainian news

Naftogaz buys 400 million cubic meters of gas on stock exchange from private gas production companies

Naftogaz buys 400 million cubic meters of gas on stock exchange from private gas production companies

The Naftogaz of Ukraine national joint-stock company purchased about 400 million cubic meters of gas on the Ukrainian Energy Exchange (UEB) from private Ukrainian producers since April 26.

This follows from a statement by the Company, the Ukrainian News agency reports.

"The transparent gas market within the country motivates private companies to increase their production. That is why the Naftogaz group goes to the stock exchange almost every day, buying various volumes of fuel, from hundreds of thousands of cubic meters to millions," said the head of the Naftogaz group, Oleksii Chernyshov.

According to him, the main goal of Naftogaz for the 2023/24 heating season is to abandon the import of gas and spend the winter on its own energy carriers.

"For this, it is necessary to create the proper fuel reserves. UkrGasVydobuvannya must provide most of it - up to 13.5 billion. The rest is expected from private individuals. In the conditions of war, the export of gas from Ukraine's own production is prohibited. This may be an unpopular but justified decision: first, we must be sure that we have accumulated enough gas for our own needs," said Chernyshov.

As the Ukrainian News agency earlier reported, Naftogaz started purchasing gas from private gas production companies on the stock exchange in April.

In August 2022, the Cabinet of Ministers obliged Naftogaz to buy gas from domestic private gas production companies.