Naftogaz purchased gas from private producers for UAH 9.2 billion

Oleksiy Chernyshov, the head of the board of Naftogaz of Ukraine NJSC, held a meeting with private mining companies of Ukraine, the press service of Naftogaz reports.

Naftogaz notes that the position of private producers who, despite the war, continued to invest in the industry, as well as proper interaction with them, made it possible not only to increase natural gas production but also to inject a record amount of gas into underground storage facilities.

"As agreed, Naftogaz has fulfilled all commitments made in April 2023 during our previous meeting by restarting the Ukrainian Energy Exchange. We have effectively restarted the domestic gas market. This has ensured absolute parity and transparency for all market participants," said Oleksiy Chernyshov.

According to Chernyshov, on the eve of the heating season, NAK purchased more than 700 mcm of gas on the exchange for over UAH 9.2 billion. "This allowed private production companies to maintain liquidity and to gradually increase their own production levels," added the head of Naftogaz.

The chairman of the board of Naftogaz also noted that Ukraine has recently been able to operate a number of new gas wells, making it possible to increase daily gas production by 8% to 36.6 mcm.

Combined with the gas volumes of private producers who store them in Ukrainian gas storage facilities, Naftogaz will soon exceed the gas accumulation rate set by the government in underground storages for the heating season, the state-owned company noted. It is talking about 14.7 bcm, which were planned to be stored in storage before the start of the heating season.

Meeting participants noted that the accumulation of gas in underground storage facilities is particularly important on the eve of the coming the heating season as gas consumption at thermal power plants and thermal power plants is up by 200%.