London, 19 October 2018
Global energy and commodity price reporting agency Argus has launched a Ukrainian natural gas price assessment, to bring transparency to a rapidly evolving market.
The new assessment is an important step in the evolution of a freely traded Ukrainian gas market, which has developed since imports from Europe began at the end of 2015, replacing supplies from Russia. A growing number of international trading companies are active in the market, along with domestic gas producers, traders and consumers.
Argus’ Ukrainian natural gas assessment is for prompt supply in the internal market. It aligns with, and allows comparison to commonly quoted price assessments in Europe. The new price assessment stands alongside Argus’ existing coverage of neighbouring Hungary and Slovakia, its benchmark German and Dutch prices, and many other hubs across the continent.
Ukraine is a large market, and the country has ambitions to align with the EU’s rules on natural gas and electricity, which could make it a more attractive location to trade. Ukraine consumed 30.6bn m³ of natural gas in 2017, placing it in line with some of Europe’s biggest markets. And Ukraine operates a gas storage system that is larger than any in Europe, at a time when market flexibility is at a premium. Trading firms and gas companies inject supply into storage during the summer when demand is low. As temperatures fall in the winter, storage withdrawals are made to meet heating requirements.
“Argus is dedicated to providing independent coverage of the Ukrainian gas and power markets,” Argus chairman and chief executive Adrian Binks said. “Our focus on Ukraine is because of its growing importance to the European energy system, rapid development and size. This assessment is the culmination of dedicated research and development on the part of our editorial teams in Kiev and London.”
Argus’ Kiev office opened in 2008, producing motor fuel, LPG and other price assessments, news and analysis.
About Argus Media
Argus is an independent media organisation with almost 950 staff. It is headquartered in London and has 21 offices in the world’s principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets, and offers bespoke consulting services and industry-leading conferences.
Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.
Argus was founded in 1970 and is a privately held UK-registered company. It is owned by employee shareholders and global growth equity firm General Atlantic.