DTEK says it has gas surplus it wants to export, needs government approval

25 April, 02:55 PM
DTEK energy company Executive Director, Dmytro Sakharuk (Photo:ДТЕК / Facebook)

DTEK energy company Executive Director, Dmytro Sakharuk (Photo:ДТЕК / Facebook)

Ukraine has sufficient commercial gas reserves to start partial export, but the state needs transparent and effective rules for its sale, DTEK energy company Executive Director, Dmytro Sakharuk, told Ukrinform on April 25.

"We believe that we have the conditions to partially resume gas exports," Sakharuk said.

“The issue here is not the export itself, but the transparent rules of sale. There should be an exchange, where both exporters and importers, Ukrainian producers, and Ukrainian traders should sell, so that the price is formed transparently.”

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He said that the commercial segment of the market currently consumes much less gas than is produced by commercial producers. And there are "large stocks of gas that are just lying around."

"These are frozen funds, and as a result, companies cannot resume or continue drilling and producing gas where they were producing before the war," Sakharuk said.

He said DTEK already has plans for what to do with the profits from the sale of its gas.

"Our company currently has almost 1 billion cubic meters of unsold gas in storage. This is, in fact, money that we could use for investment, especially for drilling new wells,” he said.

The ultimate beneficiary of DTEK energy holding is businessman Rinat Akhmetov, Ukraine’s wealthiest citizen in 2021.

Ukraine’s natural gas export has been on hold since March 4, 2022, when the capacity allocation and confirmation of nominations/renominations for gas export were terminated.

The Cabinet of Ministers endorsed the gas export ban for 2023 at a meeting in December 2022.

Energy Minister German Galushchenko stated in April 2023 that Ukraine would maintain the ban on gas and energy exports for the time being to ensure national needs could be met.

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