PPC is leading in the gas sales at UEE in October
In the first half of October, Poltava Petroleum Company (PPC) JV has sold more than 10 million cubic meters of gas. This is stated in the message of Ukrainian Energy Exchange.
On October 9 and 12, the company sold October's resource of 0.6 and 2.7 million cubic meters, respectively, another 3.7 million cubic meters of November has was sold on October 12. The favorable trend continued this week. For auction on October 16, 3.5 million cubic meters of gas from October resource and 2 million cubic meters of November resource were put; 2.35 million cubic meters of October resource and 1.5 million cubic meters of November resource were sold.
The average weighted selling price in October for PPCP was UAH 11,939 per thousand cubic meters. Regarding the resource of November, the company was the first seller on the trading platform and formed the initial price of the monthly resource of UAH 12,031 per thousand cubic meters. Based on the results of two bids the price of the company's November resource reached to UAH 12,041 per thousand cubic meters.
“We were the pioneers of natural gas trading on the Ukrainian Energy Exchange, where we are selling our own resource from January 2017. UEE Trading Platform is an efficient channel for natural gas and other energy resources sales, which allows forming the market price for the product and the transparent markets,” Victor Gladun, CEO of the PPC says. PPC is one of the largest non-state oil and gas companies in Ukraine. Company activities include oil and gas prospect, exploration, production and treatment. PPC is owned by the British oil and gas company JKX Oil & Gas Plc.