Naftogaz plans to buy 12 mcm of gas at Ukrainian Energy Exchange auction

MOSCOW. April 26 (Interfax) - Naftogaz of Ukraine will conduct the first auction trading on the Ukrainian Energy Exchange on Wednesday to buy natural gas produced in Ukraine, Ukrainian media said quoting the exchange.

According to the exchange bulletin, Naftogaz is willing to purchase 6 million cubic meters of gas and then pump it into underground storage facilities on April 29. The starting price is 10,972 hryvni per 1,000 cubic meters (excluding VAT) on a post-payment basis within five banking days after the parties sign a purchase deed.

Naftogaz is also willing to buy 6 million cubic meters of Ukrainian gas to be supplied to the Ukrainian gas transmission system over the course of May. The starting price is 10,791 hryvni per 1,000 cubic meters (excluding VAT), with 25% of the total sum agreed between the parties to be paid on the 10th, 20th, and 30th day each after the transfer and the remaining 25% by the 15th day of the following month.

In both cases, the volume is divided into 60 lots of 0.1 million cubic meters.