NJSC Naftogaz Ukrainy in 2020 plans to create an exchange to trade with gas, Head of Naftogaz integrated gas business unit Andriy Favorov has said.
“Our idea, our strategy, is that next year we will create an exchange where Naftogaz will act as a buyer and seller of gas,” he said in an exclusive interview with Interfax-Ukraine.
According to him, the decision has already been approved by the board and the supervisory board of the company. The required preparatory work is ongoing to launch the exchange. In particular, a tender was held to implement the ETRM (Energy Trade Risk Management) system, which will take into account all transactions and market fluctuations.
“The introduction of this system will give us the required tools to control commercial risks,” Favorov said.
Within the framework of the 27th meeting of the Intergovernmental Ukrainian-Belarusian Mixed Commission on Trade and Economic Cooperation, a meeting of co-chairs of the national parts of the Commission and a plenary meeting took place. “The visit of the Belarusian delegation of such level is a real opportunity to continue the dialogue with a view to practical implementation of the urgent tasks of cooperation in all areas of mutual interest for the peoples of our states,” the press service of the Cabinet of Ministers quoted Minister of Energy and Environmental Protection of Ukraine Oleksiy Orzhel as saying on Saturday.
It is noted that the constructive discussions held at expert consultations within the Commission will deepen cooperation between Ukraine and Belarus.
“Cooperation with the Republic of Belarus will ensure the development and functioning of stable and competitive sectors of the economy of our states. Implementation of the agreements will provide an opportunity to strengthen political, trade, economic and cultural ties between our countries,” Orzhel added.
Top 20 countries Ukraine has posted the highest surplus of trade in goods in Jan-Sept 2019
Main trade partners of Ukraine in % from total volume (import from other countries to Ukraine) in Jan-Aug 2019
Main trade partners of Ukraine in % from total volume (export from Ukraine to other countries) in Jan-Sept 2019
President of Ukraine Volodymyr Zelensky expects growth in trade with Lithuania and encourages Lithuanian businesses to invest in Ukraine. “We expect that our bilateral trade in goods and services will exceed last year’s record and reach almost $1.5 billion,” he said at a briefing in Vilnius after a meeting with Lithuanian President Gitanas Nauseda. Zelensky noted that Lithuanian companies are not leaving the Ukrainian market, and they also continue to develop investment projects. As an example, he cited the opening of the second Lithuanian solar power station in Ivano-Frankivsk region on November 27.
Zelensky and Nauseda took part in the fifth Ukrainian-Lithuanian Economic Forum.
“We respect every investor who already works in our country. This applies to everyone, regardless of business: from restaurants to the green energy sector. We will not take rash steps that would worsen the business environment,” the president of Ukraine said, speaking at the forum.