March 16, 2021 – GTSOU joined the Council of the Natural Gas Section, which was established by the Ukrainian Energy Exchange (UEEX), with the aim of promoting the development of a competitive environment in the Ukrainian gas market and exchange trading in natural gas.
Within the framework of the UEEX Section Council, the Company, together with other participants, will take part in creating conditions for the development and implementation of effective exchange instruments. Among the urgent issues are the development of the market for short-term standardized products, which will allow market players to quickly trade in gas, the formation of a gas price index within Ukraine, issues of organizing exchange trading, etc.
“The development of exchange trading is an important prerequisite for the formation of a transparent and liquid gas market in accordance with European standards. GTSOU, as one of the major players in the gas market, understands its responsibility and is ready to provide expertise and support for the successful launch of energy exchanges in Ukraine. After the completion of the regulatory and other procedural issues, the Company also plans to front on energy exchanges that meet the requirements of the GTS Code of Ukraine”, – noted Ievgen Todorov, Commercial Director of the GTSOU.
The Council of the Natural Gas Section also includes representatives of the Gas Storage Operator of JSC “Ukrtransgaz”, natural gas supplying companies and gas producing companies.
Recall that in January 2021, Law No. 3176 was adopted, which amends the Law of Ukraine “On Public Procurement”, which will allow LLC Gas TSO of Ukraine (GTSOU), JSC “Ukrtransgaz” (UTG) and GDN Operators to buy natural gas on the exchange.