Global energy and commodity price reporting agency Argus Media has launched a Ukrainian natural gas price assessment to bring transparency to a rapidly evolving market.
The new assessment is an important step in the evolution of a freely traded Ukrainian gas market, which has developed since imports from Europe began at the end of 2015, replacing supplies from Russia. A growing number of international trading companies are active in the market, along with domestic gas producers, traders and consumers,” according to a report on the company’s website.
“Ukraine is a large market, and the country has ambitions to align with the EU’s rules on natural gas and electricity, which could make it a more attractive location to trade. Ukraine consumed 30.6 billion cubic meters of natural gas in 2017, placing it in line with some of Europe’s biggest markets. And Ukraine operates a gas storage system that is larger than any in Europe, at a time when market flexibility is at a premium. Trading firms and gas companies inject supply into storage during the summer when demand is low. As temperatures fall in the winter, storage withdrawals are made to meet heating requirements,” it reads.
“Argus is dedicated to providing independent coverage of the Ukrainian gas and power markets. Our focus on Ukraine is because of its growing importance to the European energy system, rapid development and size. This assessment is the culmination of dedicated research and development on the part of our editorial teams in Kyiv and London,” Argus Chairman and Chief Executive Adrian Binks said.
Argus’ Kyiv office opened in 2008, producing motor fuel, LPG and other price assessments, news and analysis.
