PGNiG SA and Ukrtransgaz renewed the agreement for the storage of natural gas in Ukrainian underground gas storage facilities.
“Extension of the contract is the result of our persisting interest in Ukrainian natural gas market, where we regarded as reliable supplier“, said Maciej Woźniak, Vice President of the PGNiG Management Board for Trade.
The first storage agreement between PGNiG and Ukrtransgaz was signed in October 2017. Access to storage facilities allows PGNiG to operate directly on the Ukrainian market. The Polish company has supplied gas for Ukrainian customers since August 2016. As for 31 June 2018 the total volume of exported gas reached over 1,27 bcm (PN Standard).
Ukrtransgaz is the operator of the Ukrainian natural gas transmission system. The company manages underground storage facilities with total capacity of 31 bcm.
Ukrtransgaz: New contract indicates our reliability
PGNiG company is actively supplying natural gas to Ukraine, selling it at the border since 2016. In 2017, PGNiG delivered a record 700 million cubic meters in the Ukrainian market, twice the volume delivered in 2016. In addition, in 2017, PGNiG and Ukrtransgaz concluded contracts for transportation and storage of natural gas, which created the necessary conditions for PGNiG to enter the domestic market of Ukraine.
The conclusion of a new storage agreement will open access for PGNiG to the utilization of the capacities of Ukrainian UGS.
The signing of this agreement is an indication that such a respectable international supplier highly appreciates the qualification, reliability and responsibility of Ukrtransgaz as the UGS operator and is interested in the presence on gas market of Ukraine, which has been developing since 2015, when the Law “On the natural gas market” was adopted. By the end of 2018, Ukrtransgaz is expecting to sign contracts on gas storage in the UGS of Ukraine with a number of leading German traders.