Exporting surplus gas to the EU could boost Ukraine's revenue and stimulate drilling

UA NEWS 11 October 2026 16:11

The Association of Gas Producers explained the potential benefits of exporting surplus natural gas. According to the association’s estimates, limited exports to EU countries under government control could increase foreign exchange earnings, budget revenues, and investments in new wells.

This was announced by Artem Petrenko, director of the Association of Gas Producers of Ukraine.

“Energy security remains a priority for the state: the decision was made based on the timely filling of underground gas storage facilities, consumption forecasts, and a detailed analysis of needs for getting through the heating season. At the same time, this is an important step to support the economy and an incentive for private companies to invest in the sector,” Petrenko noted.

According to him, exports will increase foreign currency inflows into the country, which will help maintain the balance of payments and generate additional revenue for the economy, as well as boost tax revenues to the state and local budgets.

The partial reopening of exports is the government’s first and important step toward restoring market mechanisms. It also supports the Ukrainian economy and serves as an incentive for gas producers to invest in the sector.

The decision applies only to surplus natural gas held by private producers due to a sharp decline in industrial consumption caused by shelling.

In the event of a crisis or a threat to energy security, the state will be able to promptly halt exports.

“I will repeat once again, (!) exports will take place under the state’s full control. In the event of a crisis, they will be promptly halted,” added the Association’s director.

Companies will be able to sell up to 15% of the gas they produced in the previous month for export each month. Sales will take place through exchange trading, and all information about the transactions will be public.

Source: Artem Petrenko