Business news from Ukraine

Business news from Ukraine

OKKO GROUP STARTS GAS IMPORTS FROM EUROPE

24 January , 2018  

OKKO Group, including the OKKO fuel filling stations network (Galnaftogaz Concern), has imported the first batch of natural gas in the amount of 1 million cubic meters from Europe, the holding’s press service has reported.
“The resources were purchased from the international energy trader AOT Energy. And now it is being pumped into the underground gas storage facilities,” the report said.
Currently, the holding is negotiating the purchase of gas with several other international traders.
“We have already passed all the necessary compliance procedures with five of them, which necessarily precede the signing of contracts,” the head of the new products sale department at OKKO, Volodymyr Ostaschuk, said.
In future, OKKO intends to reach the volume of natural gas purchase of 30 million cubic meters monthly.
“It is planned to increase activity in European gas markets in spring, when the heating season ends, and resources can be purchased 30-40% cheaper than during the peak consumption periods. Afterwards it will be stored in underground storage facilities. OKKO Group will also buy gas from Ukrainian producers,” the press service said.