GTSOU will buy gas from non-residents in the customs warehouse at the Ukrainian Energy Exchange

GTS Operator of Ukraine (GTSOU) has announced the purchase of natural gas for its own needs from non-residents storing gas in the customs warehouse of Ukrainian underground storage facilities. The auction will be held in the new section "Procurement: Import, Customs Warehouse" on the Ukrainian Energy Exchange (UEEX).

During the bidding, non-resident participants can offer the buyer their resources stored in the customs warehouse of the UGS or on the terms of transfer at Interconnection points to Ukraine. The bidding is conducted on the principle of a unilateral counter-auction at the BETS.

"The company continues to demonstrate its openness by expanding opportunities for counterparties, attracting the maximum number of partners to improve procurement efficiency, and increasing the diversity of ways to meet its own technological needs. I hope that our initiative will open new prospects for consumers in Ukraine," commented Vadym Rybachuk, Commercial Director of GTSOU.

Participants can submit bids for the following products: Customs warehouse, Customs warehouse+Short-haul, Interconnection point (existing cross-border points for the borders with Poland, Hungary, Romania, Moldova, and Slovakia). The price will be determined in euros.

To participate in the auction, bidders must be accredited at the UEEX, including non-residents. At the initial stage of the section's launch, no guarantee fees are expected for participants, and UEEX plans to use its clearing mechanisms for this type of trading in the future.

"We hope that this step will help to strengthen the integration of our gas market with the European one and develop the Ukrainian gas hub. These are only the first steps and as market participants become more interested in this instrument, we plan to develop and improve it," said Oleksiy Dubovsky, Chairman of the UEEX Exchange Committee.