Ukraine first included in rating of gas hubs of Europe

Ukraine first included in rating of gas hubs of Europe

The European Federation of Energy Traders (EFET) for the first time included Ukraine in its annual European Gas Hubs Benchmarking Study, placing Ukraine 18th.

This was reported by the press service of national joint-stock company Naftogaz Ukrainy.

The press service said that Ukraine has 3.5 score and it was less than the following hubs have: NBP (UK), TTF (the Netherlands), ZTP (Belgium) and NCG (Germany). However, Romania and Bulgaria are still lagging behind. The two countries started the liberalization of their gas markets earlier than Ukraine did.

Ukraine should set tariffs at the internal entry/exit points of the gas transport system (GTS), introduce daily balancing with settling misbalances and start using short-term standardized products on the trade platform within the limits of daily balancing for improving its positions in the EFET rating.

"The adoption of the draft amendments to the GTS Code developed by Ukrtransgaz and submitted to the regulator will help the Ukrainian hub significantly improve its positions and climb in the next EFET review," Naftogaz said.