Ukraine will be allowed to export some of its gas
Controlled exports of a portion of Ukraine’s natural gas could help gas production companies raise funds to repair damaged infrastructure and drill new wells, without posing a threat to the domestic market.
According to Vladimir Shchelkunov, president of ICC Ukraine, the proposal is to export only the volume of gas for which there is currently insufficient demand in Ukraine.
Producers will be able to use the proceeds to repair damaged facilities, purchase equipment, conduct geological exploration, and drill new wells.
At the same time, the expert emphasizes that supplying the domestic market must remain a priority. It is proposed that export volumes be reviewed monthly, taking into account production, reserves, and the state of the infrastructure.
Gas will be sold through the exchange, and unused quotas cannot be carried over. In addition, the government will have the ability to immediately suspend exports if a threat to energy security arises.
According to Shchelkunov’s assessment, it is precisely the constant monitoring of the gas balance and the ability to quickly halt exports that are the key conditions under which such a mechanism can function without posing a risk to the heating season.
Source: RBC-Ukraine.
Natural gas prices in Europe are approaching their highest levels since the start of the war in Iran. Several factors are putting pressure on the market at once: a new heat wave, rising demand for electricity and increased load on gas-fired power plants, delays in maintenance work at a key field in Norway, and the upcoming solar eclipse.
