PGNiG Renews Ukraine Storage Contract
Poland's PGNiG and Ukrainian state-run transmission operator Ukrtransgaz have renewed an agreement for gas storage at Ukrainian underground gas storage facilities.
“The extension of the contract is the result of our persisting interest in Ukrainian natural gas market, where we regarded as reliable supplier“, said PGNiG vice president for trade Maciej Wozniak.
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 at 31 June 2018, PGNiG said the the total volume of its gas exports to Ukraine reached over 1.27bn m3.
Ukrtransgaz manages underground storage facilities with total capacity of 31bn m3. The company is wholly-owned by Ukrainian state gas group Naftogaz but its eventual unbundling from the group is planned. PGNiG is the dominant gas supplier in Poland, a listed company, but 71%-owned by the state.