JSC Ukrtransgaz and the Polish energy company PGNiG SA renewed a contract for the storage of natural gas in Ukrainian underground gas storage facilities.
The PGNiG SA is the leader in the Polish natural gas market. It is a Warsaw Stock Exchange-listed company operating in exploration and production of natural gas and crude oil as well as gas imports and exports. Through its key companies, PGNiG is also active in the area of storage, sale and distribution of gas and liquid fuels, as well as heat and electricity generation.
PGNiG company is actively supplying natural gas to Ukraine, selling it at the border since 2016. In 2017, PGNiG delivered a record 700 million cubic meters in the Ukrainian market, twice the volume delivered in 2016. In addition, in 2017, PGNiG and Ukrtransgaz concluded contracts for transportation and storage of natural gas, which created the necessary conditions for PGNiG to enter the domestic market of Ukraine.
The conclusion of a new storage agreement will open access for PGNiG to the utilization of the capacities of Ukrainian UGS.
The signing of this agreement is an indication that such a respectable international supplier highly appreciates the qualification, reliability and responsibility of Ukrtransgaz as the UGS operator and is interested in the presence on gas market of Ukraine, which has been developing since 2015, when the Law “On the natural gas market” was adopted. By the end of 2018, Ukrtransgaz is expecting to sign contracts on gas storage in the UGS of Ukraine with a number of leading German traders.