DTEK Imports Natural Gas from Europe to Ukraine

DTEK Trading announced that it started importing natural gas to Ukraine from Europe, adding that it plans to import up to 100 million cubic meters of natural gas in July.

“Our goal is to improve business efficiency and the competitive strength of our products and services,” said Andrey Favorov, DTEK’s Commercial Director in a note released on Thursday.

The Ukrainian privately owned utility said that the import volumes will then depend on the economic expedience and conditions in the Ukrainian and European gas markets.

DTEK is one of Ukraine’s largest energy traders, cooperating with Alpiq Energy (Czech Republic), Axpo Trading (Switzerland), E.ON Energy Trading (Germany), EDF Trading (UK), Gazprom Marketing & Trading (UK).

“Having built up an efficient vertically integrated chain in coal, we are now turning to gas, as DTEK consumes over 3 billion cubic meters of natural gas per year. Currently, European gas prices are lower than those of Naftogaz of Ukraine, so we are planning to not only produce our own gas, but also to import it. We welcome an open and constructive dialogue,” explained Favorov.