Ukrnafta resumes commercial sale of natural gas at Ukrainian Energy Exchange

MOSCOW. Nov 30 (Interfax) - Ukrnafta has resumed (without taking into account the sale of its own gas at the regulated prices) the sale of natural gas at the Ukrainian Energy Exchange (UEB) after a three-year break.

As Ukrainian media report, citing the UEB report, the company offered on November 29 to deliver its natural gas to the UGSF in December at the initial price of UAH 25,416.7 hryvnias per thousand cubic meters (excluding VAT).

Seven companies were interested in Ukrnafta's offer. According to the results of the tender, 100,000 cubic meters were sold at the average weighted price of 25,000 hryvnias per thousand cubic meters (excluding VAT).

"We welcome Ukrnafta's resumption of commercial sales at the UEB. The cooperation with the powerful state company will help forming the most relevant price indicators for the sale of natural gas on the domestic market," UEB General Director Alexander Kovalenko said.

A tender where the Ukrnafta resource is presented is also scheduled for November 30.

As reported, on November 5, the headquarters of the supreme commander-in-chief decided to forfeit to the state as military property the shares of Ukrnafta, Ukrtatnafta (excluding the stake of Naftogaz), Motor Sich, AvtoKrAZ, and Zaporizhtransformator. This was done on November 6 after the National Securities and Stock Market Commission had resolved the procedure.

A general meeting of Ukrnafta's shareholders on November 9, 2022 introduced amendments to the company's charter, replacing the joint executive body (the board) with the sole executive body (the director), in the person of Sergei Koretsky.

Ukrnafta owns 85 special permits for production of hydrocarbons. It has 1,809 oil and 153 gas wells on its books. The company owns 537 gas stations.

The controlling stake in Ukrnafta belongs to Naftogaz, while the minority stake (about 42%) was held by Igor Kolomoisky and Gennady Bogolyubov's companies before the seizure.