Consignors – which can only be Gazprom – have not been interested by offers of additional capacities for gas transportation through Ukraine for June from Gas Transmission System Operator of Ukraine (GTSOU).
Gazprom has a long-term reservation of Ukrainian capacities in the volume of 40 billion cubic meters for 2021, which is equal to 109 million cubic meters per day. The company additionally booked 15 mcm at auction on May 17, giving a total of 124 mcm per day.
GTSOU offered an additional 63.7 mcm per day at the monthly auction on Tuesday; however, there were no bids for this. The outcome of the last major additional auction a month ago was the same.
The announcement of this auction – with the prospect of significant supply growth on the European market – and its outcome have a substantial influence on spot prices for gas on the European market. They reduce under pressure of the appearance of potential new supply and rebound following an unsuccessful auction. Meanwhile, Gazprom prefers not to comment on its plans regarding short-term reservation of Ukrainian capacities.
Gazprom is currently pumping 124 mcm per day on average through Ukraine, fully using the volume booked.
If Gazprom had accepted the offer to use additional transit capacities, it would have meant a return to transportation volumes through Ukraine of 2019, before the new transit contract and payment of $3 billion to Naftogaz in line with a Stockholm arbitration ruling.
Europe is currently dramatically increasing gas consumption. Global supplies of liquefied natural gas and pipeline gas from Russia are at their highest levels, but this so far impedes the start of mass replenishment of gas in underground storage facilities to prepare for next winter.
In connection with the situation in Belarus, Ukraine is ready to provide states and private companies with its airspace for reorganizing air routes, the press service of the Ministry of Infrastructure of Ukraine said, with reference to minister Oleksandr Kubrakov. “The events in Belarus have become an international precedent. Our priority is the safety of passengers and aviation. The primary task is the prompt organization of all events in strict accordance with international and national legislation. Ukraine is ready, on its part, to provide maximum support to states and private companies in the process of restructuring routes through our airspace,” Kubrakov said.
As reported, Ukraine stops air traffic with Belarus from May 26. The corresponding decision was made at a government meeting on May 25.
Earlier on Monday, Ukrainian President Volodymyr Zelensky instructed the Ukrainian government to prepare a decision on the termination of flights between Ukraine and Belarus in connection with the events that took place at Minsk airport on May 23.
National bank of Ukraine’s official rates as of 25/05/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of May 25
Source: Central Bank
Ukraine stops air traffic with Belarus from May 26, the relevant decision was made at a government meeting on Tuesday, Prime Minister Denys Shmyhal said.
“From 00:00 on May 26, Ukraine will stop air traffic with Belarus,” Shmyhal wrote in the Telegram channel.
The prime minister said the government instructed the Infrastructure Ministry, the the State Air Traffic Services Enterprise (UkSATSE) to take the necessary measures for this.
In addition, Ukrainian airlines and aircraft will be prohibited from flying in the airspace of the Republic of Belarus.
The State Border Guard Service also received an order to stop the registration of passengers traveling from Belarus or to Belarus at the customs points of airports.
“The situation with the forced landing of Ryanair’s aircraft in Minsk is a violation of the Convention on International Civil Aviation. The decision of our government is aimed at ensuring the safety of flights and passengers,” Shmyhal said.
ARX insurance company (Kyiv) in January-March collected UAH 689.7 million of insurance premiums, which is 10% more than last year, according to a press release from the insurer.
The amount of insurance claims paid to clients during this period amounted to about UAH 294 million, which is 11% more than last year. The number of contracts in this period exceeded 534,000, which is 8% more than the number for the same period in 2020.
The company reports that in the KASKO segment the amount of insurance premiums totaled about UAH 406 million, which is 32% more than in the same period last year. The share of the product in the company’s portfolio is 59%.
Under OSAGO, the amount of collected premiums exceeded UAH 51 million, which is 12% more than in 2020, in voluntary medical insurance – more than UAH 118 million, in property insurance – UAH 75 million.
As reported, AXA Group (France) in February 2019 completed the sale of its subsidiaries in Ukraine: PrJSC AXA Insurance and AXA Insurance Life.
On July 1, 2019, AXA Insurance changed its name to ARX Insurance Company. AXA Life Insurance began operating under the ARX Life brand.
ARX has been operating in the insurance market for 26 years, and has been the leader in KASKO insurance for the 12th year in a row. It ranked first among Ukrainian insurers in terms of net insurance premiums and net insurance payments for 2019. It is part of the international insurance holding Fairfax Financial Holdings Limited (Canada).
