The French company ENGIE will supply gas to GTSOU for the first time

The French company ENGIE won the auction of the Gas TSO of Ukraine LLC(GTSOU) for the supply of 20 mcm of natural gas at the price of 4 070 UAH/tcm (incl. 20 % VAT) on a 10-day deferred payment until August 31, 2020, as reported on the Prozorro e-procurement portal.

The expected value of the tender before the auction was at € 2.64 million (incl. 20 % VAT).

In addition to ENGIE, the German company RWE Supply and Trading GmbH also participated in the auction. Following the tender and the disclosure protocol, ENGIE won with its lowest bid proposal of € 2.53 million (incl. 20 % VAT).

According to the GTSOU’s General Director Serhiy Makogon, the GTS operator purchased those volumes as ENGIE’s natural gas kept in Ukrainian underground gas storages under the “customs boned warehouse” regime.

“Volumes are not so important at this stage, it is important that such well-known and regulated companies have agreed to participate in such a tender. It is an acknowledgement in kind that the GTSOU has passed their compliance policy and financial risk management,” Makogon added.

It is worth noting that ENGIE is one of the 5 European companies that finance the construction of Nord Stream-2. The list also includes the Austrian company OMV, the British-Dutch Shell, and the German companies Wintershall and Uniper.

According to data obtained by ExPro, in 2020 ENGIE sold almost 70 mcm of natural gas on the border with Ukraine, most of which (59 mcm) was bought by a subsidiary of ENGIE Energy Management Ukraine, with the remaining 11 mcm supplied by ENGIE to the NJSC Naftogaz of Ukraine.

ENGIE is a French energy and gas company operating in the field of generation, transmission, and supply of electricity, production, transportation and supply of natural gas, as well as in the field of renewable energy sources.

18:30 / 11 August, 2020

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