Record gas volumes in Ukraine's UGS reflect high levels of trust within business community – Chernyshov

Continued investment by private gas production companies in wartime conditions has made it possible to not only increase domestic production but to pump record amounts of gas into Ukraine's underground storage facilities, Naftogaz CEO Oleksiy Chernyshov commented during a September 13 meeting with private extraction companies.

"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," Chernyshov told the meeting. "As a result, on the eve of the heating season, NAK purchased more than 700 million cubic meters of gas on the exchange for over UAH 9.2 billion. This allowed private extraction companies to maintain liquidity and to gradually increase their own production levels."