Ukraine has started the practical implementation of the certification of Ukrtransgaz as a European gas storage

Ukraine has moved to the practical implementation of the plan for the certification of Ukrtransgaz (UTG) as a European natural gas storage operator. This was reported by the acting general director of UTG Sergiy Pereloma.

According to him, a successful certification will confirm the independence of the Ukrainian UGS network from third parties and open the possibility to store here not only gas of non-resident companies, but also strategic reserves of European countries.

The first step in this direction - the formation of the appropriate legislative framework - has already been started. At the end of October, the Parliament of Ukraine registered draft law No. 8158, which implements into Ukrainian legislation the norms regarding the certification of gas storage operators, introduced by the EU in July 2022. This draft law will determine the general principles of such certification and specify the powers of the Regulator - NEURC - regarding its implementation.

In the future, UTG plans to move on to work with the Regulator: NEURC will detail the certification procedure, and UTG will provide the documents necessary for its completion. After the analysis and relevant conclusions from the Ukrainian Regulator and the Secretariat of the Energy Community, a decision will be made regarding the certification of UTG as an operator of underground gas storage according to EU standards. UTG is confident that the decision will be positive, and its results will be significant both for the company and for the country.

"We are talking about the opportunity to maximally load the UGS network, directly increase profits and revenues from gas storage of EU states and members of the Energy Community, in particular within the framework of the "burden-sharing mechanism", which is currently being implemented in Europe. Moreover, the certification will be a powerful reputation boost, an additional argument in commercial business negotiations, and will once again confirm the effectiveness of the European integration processes in Ukraine and our membership in the European gas market," commented Pereloma.