On July 27, 2015 UCE “Contract house “UICE” (hereinafter “UICE”) held the first electronic trading on forward contracts for supply of natural gas with delivery in August 2015. Trades held by UICE comply with the principles of the new edition of the Law of Ukraine “On the natural gas market”, which will come into effect on 1 October 2015, as well as the principles of the European Energy Charter and the Third Energy Package of the European Union.

The price of natural gas at the first auction amounted to UAH 5225 per 1000 m3, not including cost of transport services, which tariffs are regulated by the National Commission for Energy Regulatory and Public Services.

It is expected that as the number of participants in the gas exchange will grow, the auctions will be held on a daily basis, and their results will form the “Ukrainian index of prices for natural gas“.

Resident companies of Ukraine as well as international players can act as Participants in these trades. It is assumed that not only gas companies, trading companies and industrial users of natural gas will participate as bidders, but also budgetary and public institutions, which are currently forced to buy gas from monopoly structures at a price above the market price.

For registration and information on conditions of the auction, please contact

Vladimir Kvirenko (044) 461-54-24, vkvirenko@uice.com.ua or

Anton Kaminsky (044) 461-54-39, kaminsky@uice.com.ua