Yuri Vitrenko: Naftogaz will develop trading and a new approach to gas supply to households

14.07.2021, 19:01:00

National joint-stock company Naftogaz of Ukraine plans to actively develop its gas trading role and is working on a new approach to supplying gas to households, CEO Yuri Vitrenko told the recent Adam Smith International Ukrainian Energy Forum.

"Naftogaz will develop full-fledged trading. For the last few years, we have been selling mainly our own gas and certain volumes of gas from storage facilities - I wouldn't call it trading at all. But in the future we want to build a full-fledged trading function within Naftogaz. We see the need to work in the market and become a market maker, to ensure the liquidity of the Ukrainian gas market and to build a platform on which everyone can offer standardized products," he said.

Vitrenko added that Naftogaz, together with the Ukrainian government, the NERC, and other companies in the gas sector, is currently working on new approaches for the supply of gas to household consumers.

"We are currently working on several changes in the structure of gas supply to households, as we see some challenges in this direction. I hope that in a few weeks we will achieve this target with the active participation of the regulator, the Ministry of Energy of Ukraine, as well as the GTS Operator, gas distribution system operators, and the largest gas suppliers. Firstly and probably most importantly, the new approach will provide security of gas supply to Ukrainian households during this winter and in future heating seasons. This approach will be based on transparent market rules and reasonable pricing. At the same time, it will promote market development and competition,” said the Naftogaz chairman.

Vitrenko stressed that Naftogaz has ambitious goals in a number of areas, from gas production and trading to energy efficiency and development of hydrogen projects. In all these areas the company strives to be a national leader and a driver of change. In addition, Naftogaz of Ukraine is implementing a set of measures aimed at digitalizing the relationship between the consumer and the state.

Integrated Communications Department
NJSC Naftogaz of Ukraine