Business news from Ukraine

Business news from Ukraine

REGIONAL GAS COMPANY TO CONNECT FIRST BIOMETHANE PLANT TO NETWORKS IN 2022

The Regional Gas Company (RGC) plans to connect the first biomethane plant to gas distribution networks in the middle of next year, after the heating season, Director of RGC Strategic Planning Department Stanislav Kazda said in a commentary to the Green Deal portal on the sidelines of the Ukrainian Gas Forum.
“We want to be ready to connect the plant by the middle of next year. We do not yet know which biomethane plant to choose out of the ten considered. There are a lot of technical issues and financial constraints, but I am sure that at least one of them we can connect. Technically, this is possible after the end of the heating season,” Kazda said.
As reported, in May, the Regional Gas Company (RGC) and the Bioenergy Association of Ukraine (BAU) signed a memorandum of understanding and cooperation to synchronize the processes of redesigning gas distribution infrastructure and biomethane production. In August, gas distribution network operators operating under the RGC brand in three regions received proposals and technical parameters from BAU for connecting biomethane plants to gas distribution networks as part of a pilot project.

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GAS TRADERS OF UKRAINE INITIATE LAUNCH OF ALTERNATIVE GAS EXCHANGE

The association Gas Traders of Ukraine, uniting over 30 energy traders, has initiated the launch of a new platform for electronic exchange trading in energy on the Ukrainian Hub commodity exchange, although recently the Ukrainian Energy Exchange has been actively increasing trading volumes.
“At the Ukrainian Hub commodity exchange it is planned to hold tenders for the natural gas, liquefied gas and oil products,” the association said in a release on Tuesday.
According to the public register, Ukrainian Hub commodity exchange LLC was created with a charter capital of UAH 10,000 at the end of August 2020. Its founders on a parity basis were Central Gas and Oil Company LLC (Kyiv) belonged to Roman Storozhev and Ver-Tas LLC (Karlivka, Poltava region) belonged to director Oleksandr Mariukhnich, and the head of the company is Maryna Mariukhnich.
In 2002-2004, Storozhev was Director General of Ukrzakorodonggeologia, then until 2013 he was President of the Association of Subsoil Users of Ukraine, in 2013 he became Deputy Head of the NJSC Nadra Ukrainy, and from the end of that year until May 2014 – he was Head of the State Service of Geology and Subsoil of Ukraine.
Mariukhnich is Director of the Agrarian Exchange, which currently, according to its website, regularly holds auctions for the sale of the property of Nadra Ukrainy.

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BRITISH OIL AND GAS COMPANY STARTS DRILLING WELL IN UKRAINE

Cadogan Petroleum, the British oil and gas company with assets in Ukraine, has commenced drilling the shallow Vovche-2 well on the Bitlianska license (Lviv region), the company has reported on the website of the London Stock Exchange (LSE).
Cadogan said that the well is anticipated to take 20 days to drill and will then be put on production if successful. The well is designed to test the potential of satellite prospects around an established, old oil field.
A heavier rig is being selected to drill the Blazh-10 well on the Monastyretska license (Lviv region) as planned at a depth of about 3,500 meters. The well is expected to spud in November and is anticipated to take three months to drill, the company said.
The Vovche-2 well and the Blazh-10 well fulfil the company’s remaining commitments on the Bitlianska and Monastyretska exploration licenses, a prerequisite to convert them into production licenses.

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